Reserve Bank of India is announced to combine a few Banks with each and develop the strong customer service Support and maintain their relationship with their customers.
1. PUNJAB NATIONAL BANK (PNB) & ORIENTAL BANK OF COMMERCE AND UNITED BANK OF INDIA
2. ALLAHABAD BANK & INDIAN BANK
3 . CANARA BANK & SYNDICATE BANK
4. UNION BANK OF INDIA & ANDHRA BANK AND CORPORATION BANK
The merger would be effective from April 1, 2020.
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According to the plan:
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According to the plan:
- Punjab National Bank will take over Oriental Bank of Commerce and United Bank.
- Canara Bank will take over Syndicate Bank.
- Union Bank of India will take over Andhra Bankand Corporation Bank.
- Indian Bank will be merged with Allahabad Bank.
Sl. No | Acquirer Banks | Banks to be Merged |
---|---|---|
1. | Punjab National Bank(PNB) | Oriental Bank of Commerce and United Bank of India |
2. | Indian Bank | Allahabad Bank |
3. | Canara Bank | Syndicate Bank |
4. | Union Bank of India | Andhra Bank and Corporation Bank |
- MICR CODE OF ALL MERGER BANKS
1. PUNJAB NATIONAL BANK (PNB) & ORIENTAL BANK OF COMMERCE AND UNITED BANK OF INDIA
2. ALLAHABAD BANK & INDIAN BANK
3 . CANARA BANK & SYNDICATE BANK
4. UNION BANK OF INDIA & ANDHRA BANK AND CORPORATION BANK
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