Nationalized Bank >> 10 in the country Nationalized bank 4 important Nationalized Bank will merge into
India’s Finance Minister Nirmala Sitharaman has taken this important decision to bring the economy out of the depression when the country’s economy is going through a light period.
Nationalized Merger of Banks
- Indian Bank And Allahabad Bank will merge.
- Union Bank, Andhra Bank And Corporate Bank will merge.
- Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) And United Bank of India They will be merged.
- So Canara Bank along with Diket Bank will merge.
10 public sector banks will be merged into four. Finance Minister Nirmala Sitharaman today announced the consolidation of public sector banks.
Indian Bank Allahabad Bank under the scheme of amalgamation (Anchor Bank – Indian Bank) will merge into
Union Bank of India, Andhra Bank and Corporation Bank will merge (Anchor Bank – Union Bank of India).
PNB, OBC and United Bank will merge (PNB will be the anchor bank).
And Canara Bank and Syndicate Bank will merge (Anchor Bank – Canara Bank).
27 in the public sector in 2019 Nationalized bank 12 in the public sector now in place of Nationalized bank Finance Minister said that there will be.
Nationalized Bank – Capital income of more than ₹ 55,000 crore
- PNB (₹ 1,000,000 crore), Union Bank of India (₹ 11,700 crore), Bank of Baroda (₹ 7,000 crore), Indian Bank (₹ 25,000 crore), Indian Overseas Bank (₹ 3,800 crore), Central Bank (₹ 3300 crore), UCO Bank (₹ 2100 crore), United Bank (₹ 1,600 crore) and Punjab and Sind Bank (₹ 50,750 crore).
- Last year, the government had approved the merger of Vijaya Bank and Dena Bank and Bank of Baroda (BOB) with effect from April 1, 2019. In 2017, State Bank of India merged its five associates with Bharatiya Mahila Bank.
Said by Sitharaman Nationalized Bank about salient features
- Strengthen us Nationalized bank are wanted
- Combined Indian Bank and Allahabad Bank is the 7th largest public sector bank with a business of ₹ 8 lakh crore (Anchor Bank – Indian Bank).
- PNB, OBC and United Bank will be the 6th public sector bank after merger (PNB Anchor Bank).
- The combined Union Bank of India, Andhra Bank and Corporation Bank is the fifth largest public sector bank with a business of ₹ 1.6 lakh crore.
- A combined Canara Bank and Syndicate Bank would be the fourth largest public sector bank with a business of ₹ 15.2 lakh crore.
- The merger of Bank of Baroda, Dena Bank and Vijaya Bank is yet to take place; Employees have been rehired and best practices from each bank have been replicated in others.
- 8 PSU banks have introduced repo rate-linked loans so far.
- The loan tracking system in PSU banks is being improved for the benefit of the customers.
- 4 NBFCs have received liquidity support from PSU banks since last Friday.
- A partial credit guarantee mechanism has already been implemented for NBFCs.
- Government is working on banking reforms.
- Total NPAs of PSU banks have come down.
- Coverage ratio of provision is highest in 7 years.
- Non-executive directors to perform roles corresponding to independent directors.
- Bank of India, Central Bank of India will continue as a public sector bank.
- A Board Committee of Nationalized Banks will be constituted to determine the accountability of the Board of Directors, to evaluate the performance of the National Managers and their Managing Directors.
- Post amalgamation, Mandals will be given flexibility to identify Chief General Manager level as per business needs. They will hire chief risk officers at market-related compensation to attract the best talent.
It will be important to see if this decision taken by the finance minister strengthens the economy and increases unemployment in the country.
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