Mergers of Banks under Modi Government.

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After the merger, there will be 12 public sector banks. 
Before this merger,there will be 27 public sector banks.

In this post we discuss about merger of 10 public sector banks

Mergers of Public Sector Banks in India:

  1. Punjab National Bank (PNB):

    • Merged Banks: Oriental Bank of Commerce (OBC) and United Bank of India (UBI).
    • Operate as: Punjab National Bank (PNB).
    • Post-Merger Status: Together, they form the second-largest public sector bank in the country.

  2. Canara Bank:

    • Merged Bank: Syndicate Bank.
    • Operate as: Canara Bank.
    • Post-Merger Status: This makes Canara Bank the fourth-largest public sector lender.

  3. Indian Bank:

    • Merged Bank: Allahabad Bank.
    • Operate as: Indian Bank.
    • Post-Merger Status: This merger creates the seventh-largest public sector lender.

  4. Union Bank of India:

    • Merged Banks: Andhra Bank and Corporation Bank.
    • Operate as: Union Bank of India.
    • Post-Merger Status: This forms the fifth-largest public sector lender.

  5. Bank of Baroda (BOB):

    • Merged Banks: Dena Bank and Vijaya Bank.
    • Operate as: Bank of Baroda.
    • Post-Merger Status: This makes Bank of Baroda the third-largest public sector bank.

  6. State Bank of India (SBI):

    • Merged Banks:
      a) State Bank of Bikaner and Jaipur (SBBJ)
      b) State Bank of Mysore (SBM)
      c) State Bank of Travancore (SBT)
      d) State Bank of Hyderabad (SBH)
      e) State Bank of Patiala (SBP)
    • Along with: Bharatiya Mahila Bank.
    • Operate as: State Bank of India (SBI).
    • Post-Merger Status: SBI is the largest public sector bank in the country.

Total Public Sector Banks Post-Mergers:

After these mergers, there are 12 public sector banks (PSUs):

  1. Merged Banks:

    • SBI
    • Bank of Baroda
    • Punjab National Bank
    • Canara Bank
    • Union Bank of India
    • Indian Bank

  2. Independent Banks:

    • Indian Overseas Bank
    • UCO Bank
    • Bank of Maharashtra
    • Punjab and Sind Bank
    • Bank of India
    • Central Bank of India

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