Bank Merger List in India 2021 PDF

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Bank Merger List in India 2021

The government of India (GoI) has consolidated 10 Public Sector Banks into 4 banks. The announcement of this mega-merger was made by Union Finance Minister Nirmala Sitharaman in 2019.

However, RBI notified it in late March through its circular to merge banks in the new financial year (1st April 2020). As per the finance minister, the merger would help to manage the capital more efficiently. The amalgamation of the PSBs is based on bad loan intensity and regional factors.

Bank Merger List in India 2021 PDF - 2nd Page
Page No. 2 of Bank Merger List in India 2021 PDF

Bank Merger List in India, 2020-2021

Punjab National Bank (PNB) will take over the Oriental Bank of Commerce and the United Bank of India as an anchor bank, Canara Bank will take over Syndicate Bank, Union Bank of India will see itself taking over Andhra Bank and Corporation Bank. and Indian Bank will take over the Allahabad bank.

Acquire BankAmalgamated bankAcquisition Year
Indian BankAllahabad Bank1-Apr-20
Punjab National BankOriental Bank of Commerce1-Apr-20
Punjab National BankUnited Bank1-Apr-20
Union Bank of IndiaAndhra Bank1-Apr-20
Union Bank of IndiaCorporation Bank1-Apr-20
Canara BankSyndicate Bank1-Apr-20
State Bank of IndiaState Bank of Bikaner & Jaipur31-Mar-17
State Bank of IndiaState Bank of Hyderabad31-Mar-17
State Bank of IndiaState Bank of Mysore31-Mar-17
State Bank of IndiaState Bank of Patiala31-Mar-17
State Bank of IndiaState Bank of Travancore31-Mar-17
State Bank of IndiaBharatiya Mahila Bank31-Mar-17

After this merger, the country is having a total of 12 public sector banks, including the State Bank of India (SBI) and Bank of Baroda (BoB). This will result in seven large public sector banks and five smaller ones. There were as many as 27 PSBs in 2017. Below is list of Nationalized Banks in India 2019 After Merger

  1. State Bank of India
  2. Bank of Baroda
  3. Punjab National Bank
  4. Canara Bank
  5. Union Bank of India
  6. Indian Bank
  7. Indian Overseas Bank
  8. UCO Bank
  9. Bank of Maharashtra
  10. Punjab and Sind Bank
  11. Central Bank of India
  12. Bank of India

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