Breaking Merger of 10 public sector banks to come into effect from today!

[hike]

1) OrientalBankOfCommerce (OBC) and UnitedBankOfIndia (UBI) will be merged into PunjabNationalBank (PNB).

2) SyndicateBank will be merged into CanaraBank.

3) IndianBank will be merged with AllahabadBank.

4) UnionBankOfIndia will be merged with AndhraBank and CorporationBank.

Customers, including depositors of merging banks will be treated as customers of the banks in which these banks have been merged with effect from 1 April 2020.

Link : Merger of 10 public sector banks to come into effect from today: 10 points

 

[hike]

Guys have a look at this. OBC started working as PNB.

 

[IndiaN]

Need correction in 4th point
It's saying one bank merge into 2 banks

 

[Maheswar]

Sl.no.4 - It is actually Andhra Bank and Corporation Bank that are merging with Union Bank of India. It means Andhra Bank and Corporation cease to exist and the combined entity will be functioned as Union Bank Of India.

 

[WizarD]

 

[Guri]

PNB on top