Tuesday 25 Jun, 2019

Three other banks urge to merge

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Mumbai: The government decided to merge three public sector banks including Punjab National Bank, reports said. Oriental Bank of Commerce and Andhra Bank are the other two decided to merge. The merger will be by December 31. The government has been busy making debates on the issue.

The aim of the government is to strengthen the banking sector by merging small banks. Earlier the Bank of Baroda, Dena Bank and Vijaya Bank merged together to make huge public sector bank. The government had announced a merger of Bank of Baroda, Dena Bank and Vijaya Bank on September 17. The merger will be completed within the financial year 2018-19 and intend to start operations in April 2019 as a single bank.

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