09 Jun

Merger of Public Sector Banks (OBC, Indian Overseas, PNB, BOI, Union, Canara)- All Updates

The government is studying various models of Merger of Public Sector Banks (PSU) banks, though a concrete decision will be taken only after the success of three-way merger of Bank of Baroda (BoB), Dena Bank and Vijaya Bank, official sources said.

“There are various models that could be looked at. There could be a merger of 5-6 pan-India banks with regional reach, like the Bank of Baroda. The second option is to combine 12-15 banks. The other option is merger of regional banks on the basis of their strengths,” sources said.

“The success of the merger happening right now (BoB-Dena Bank-Vijaya Bank) will be looked at closely before deciding on a future course,” said a source.

Check out the timeline of Merger of Public Sector Banks:

JUNE 6, 2019

Merger of Public Sector Banks