Amalgamation of Banks in India

Amalgamation of Banks

If you are searching for list of Amalgamation of Banks then you are at right place. We published details regarding Nationalization of banks, List of merger in 2017 to 2020. The Amalgamation of Banks’s done after Reserve Bank of India’s notification (approval).

The Bank’s amalgamation is done to tackle the changing satiations. As we know Digitalization changed the Banking we are using now days! With the help of mobile Banking applications, the Banking service can be availed with the help of mobile application. The business environment for traditional banks become very challenging. They need to work for development & new technology to stay ahead of time.

There is need for amalgamation of Public sector Banks and Regional Rural Banks in India. The Amalgamation of Banks happen every year. As we know, Amalgamation is a process by which two or more organization come forward to create new organization. It help them to create competitive business atmosphere. With the help of Amalgamation, Traditional Banks can achieve economies of scale.

The Amalgamation of Banks done to increase the profitability & efficiency. After the amalgamation, the organization can provide service under one Brand name.

List of Amalgamation of Banks in India after 2017

The Amalgamation Process was done in Private Sector, Regional Rural Banks and Public sector Banks. The example of different sector’s amalgamation was mentioned in below list.

Private Sector Bank’s Amalgamation

Private Banking sector is far competitive then the public sector Banking industry. There are lot of challenges for the private sector Banks in India. For the survival, Private sector Banks need to offer newest technology to the customer. The Reserve Bank of India has granted permission to serval Small Finance Banks and Payment Banks. Due to this the competition among private sector Banks increased. The Example of Amalgamation of private sector Banks are listed below.

• Lakshmi Vilas Bank & DBS Bank India Ltd : The Laxmi Vilas Bank’s financial situation become worsen in 2020. The Reserve Bank of India imposed serval restriction on Laxmi Vilas Bank in 2020. After negotiation, The Reserve Bank of India approved draft of amalgamation scheme of Laxmi Vilas Bank with DBS Bank India Limited.

Amalgamation of Regional Rural Banks

The regional Rural Bank’s are integral part of our Banking industry. The Reserve Bank of India wanted to provide Banking service to all the people of our country. The Regional Rural bank ply important role in RBI’s vision related to Banking for all. The RRBs are providing Banking service in Rural area and helping RBI to achieve their Goal.

The Example of Amalgamation of RRBs are listed below,

• Pallavan Grama Bank and Pandyan Grama Bank was amalgamated in Tamilnadu. The New RRB known as Tamil Nadu Grama Bank. The Indian Bank sponsored the new Tamil Nadu Grama Bank. The Amalgamation of Banks wad done in 1 April, 2019. The amalgamated banks were working in Tamil Nadu State.
• The Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank amalgamated as Punjab Gramin Bank. The New amalgamated Bank sponsored by Punjab National Bank. The Amalgamation of Banks done in 1 January, 2018. The amalgamated RRBs were working in Punjab State.
• Narmada Jhabua Gramin Bank and Central Madhya Pradesh Gramin Bank was amalgamated as Madhya Pradesh Gramin Bank. The Madhya Pradesh Gramin Bank is sponsor by Bank of India. The amalgamation of these RRBs were done in 1 April, 2019.
• Vananchal Gramin Bank and Jharkhand Gramin Bank amalgamated as Jharkhand Rajya Gramin Bank. The new RRB working under sponsorship of State Bank of India. The Amalgamation of Banks wad done in 1 April, 2019. The amalgamated banks were working in Jharkhand State.
• The Baroda Gujarat Gramin Bank and Dena Gujarat Gramin Bank were working in Gujarat State under sponsorship of different Banks. The both Banks were amalgamated as Baroda Gujarat Gramin Bank. The Amalgamation of Banks was done in 1 April, 2019.
• The Pragathi Krishna Gramin Bank (sponsored by Canara Bank) and Kaveri Grameena Bank (Sponsored by State Bank of India amalgamated and formed Karnataka Gramin Bank. The Karnataka Gramin Bank working under sponsorship of Canara Bank in Karnataka State.

Public Sector Bank’s Amalgamation

The Merger of Public sector Banks happened in 2017, 2018, 2019, 2020. We will study in detailed about this mergers. List of Amalgamation of Banks from Starting is shown below.

Anchor Bank	Amalgamated bank	Acquisition Year
Indian Bank	Allahabad Bank	1 April 2020
Punjab National Bank	Oriental Bank of Commerce	1 April 2020
Punjab National Bank	United Bank	1 April 2020
Union Bank of India	Andhra Bank	1 April 2020
Union Bank of India	Corporation Bank	1 April 2020
Canara Bank	Syndicate Bank	1 April 2020
State Bank of India	State Bank of Bikaner & Jaipur	31 March 2017
State Bank of India	State Bank of Hyderabad	31 March 2017
State Bank of India	State Bank of Mysore	31 March 2017
State Bank of India	State Bank of Patiala	31 March 2017
State Bank of India	State Bank of Travancore	31 March 2017
State Bank of India	Bharatiya Mahila Bank	31 March 2017

Also read, Latest Bank Merger List 2020 India PDF : Click here

Below is list of Public Sector 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

Conclusion

The Amalgamation of Banks create business friendly environment for the amalgamated entities. The amalgamated Banks can provide better service and Banking network to the customers. After Amalgamation, the new entity will use one brand name, which increase Branding of the Bank. This will help amalgamated Bank to provide cost effective service to their customer.