Tag: Bank Merger

Cabinet approves merger of Vijaya, Dena banks with Bank of Baroda

New Delhi: The Union cabinet on Wednesday approved the merger of public sector lenders Dena Bank, Vijaya Bank with Bank of Baroda (BoB). According to Union Minister Ravi Shankar Prasad, the merger will make BoB the third largest bank in the country and a “globally competitive entity”. The minister said there will be no retrenchment […]

  • Friday, 09 July 2021
Services hit as 40,000 bank employees in Odisha join strike protesting merger of banks

Bhubaneswar: Customers were having a harrowing time due to bandh call given by nearly 40,000 bank employees in the State as part of the nation-wide one-day strike by employees of nine bank unions against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB). Employees of nine Bank unions under the […]

  • Friday, 18 June 2021
Merger of Baroda, Vijaya and Dena Bank on April 1; account holders know details

The amalgamation of Bank of Baroda, Vijaya Bank and Dena Bank occurred today as per a decision taken by the Central government. If one banks with any of these lenders then the concerned person must get ready to deal with some procedural changes. Though the merger will happen from the beginning of 2019-20 financial year, […]

  • Sunday, 02 May 2021
Govt Announces Mega Merger Of PSBs, Bringing Down Their Number To 12

New Delhi: In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks. United Bank of India and Oriental Bank of Commerce will be […]

  • Monday, 26 April 2021
Bank merger will not help recover bad loans: AIBEA

Chennai: The real agenda of the government in merging banks is to help big corporates as consolidation of the banks will not result in recovery of huge bad loans, said a top official of the All India Bank Employees’ Association (AIBEA). Opposing the merger of 10 public sector banks into four, C. H. Venkatachalam, General […]

  • Monday, 26 April 2021
There will not be single job loss due to merger of banks: Nirmala Sitharaman

Chennai: Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. “Absolutely, ill informed. I want to assure every union in everyone of these banks to please recall what I have said last Friday. When […]

  • Monday, 26 April 2021
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai
PSU banks lose on BSE post merger announcement

Mumbai: State-run banks on the exchanges traded on a weak note during the early trade on Tuesday after the government announced plans to merge 10 public sector banks into four. Punjab National Bank which will be merged with the Oriental Bank of Commerce and United Bank of India, fell over 7 per cent, the most […]

  • Monday, 26 April 2021
Mamata writes to Modi, opposes merger of banks

Kolkata: Urging the Centre not to ‘deprive’ her state, West Bengal Chief Minister Mamata Banerjee has written to Prime Minister Narendra Modi opposing the decision to merge two Kolkata headquartered public sector banks with those with head offices in Delhi and Chennai, respectively, without consulting her government. Banerjee called for a rethink of the “sudden […]

  • Monday, 26 April 2021
Bank Unions Threaten 2-day Strike Later This Month

Chandigarh/Dharamshala: Four bank employee unions have given a call for a two-day strike from the midnight of September 25 and an indefinite stir from the second week of November to protest against the mega-merger of 10 nationalised banks, a union leader said on Thursday. The unions are also pressing for expeditious wage revision, the introduction […]

  • Sunday, 25 April 2021
Merged Entity Of UBI, PNB, OBC To Become Operational From April 1 Next Year

Kolkata: The amalgamated entity of United Bank of India (UBI), Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC) will come into effect from April 1 next year, a top official said on Saturday. The merged unit, likely to have a new name, will be the second largest bank in the country after State […]

  • Sunday, 25 April 2021
Banks with exposure to poorly-run NBFCs will have to take larger haircuts, warns RBI governor

Mumbai: Banks will have to take more haircuts while resolving the stressed loans extended to non- banking lenders who are found wanting on the corporate governance front, Reserve Bank governor Shaktikanta Das warned Thursday. On the government move to have merge 10 banks to four larger ones, Das said the amalgamations ought to be non- […]

  • Sunday, 25 April 2021