Largest mega merger of public sector banks.
Turns into 4 banks
Today Finance minister nirmala sitharaman announced that oriental bank of commerce and united bank of indiaamalgamated with punjab national bank after merger with punjab national bank it was going to be named as punjab national bank(anchor bank) while syndicate bank merged with canara bank
After merger canara bank work as anchor bank and it becomes third largest bank in public sector bank. Andhra and corporation bank going to merged with union bank of india and union bank of india becomes anchor bank and one more merger is allahabad bank merger with indian bank in this merger indian bank work as anchor bank after merger it becomes 7th largest public sector bank.
After SBI merger it will be second largest merger in the banking industry. In second press conference of nirmala sithraman talks on slowing down economy.
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