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Bank Merger List in India 2020
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.
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.