Bank Merger List 2019 India
The PSU Bank mega merger was happened in 2019. Get complete information related to Bank Merger List 2019. In 2019, Indian Finance minister announced mega merger of public Banks. The mega merger of Banks involved total 10 government Banks.
After Bank merger in 2019, only 12 PSU banks are operating. The government wanted to decrease number of PSU Banks. Because of Mega merger, the 6 Nationalized Bank were amalgamated into 4 banks. The sex new amalgamated Bank and six independent Bank now operating in India.
Bank merger list 2019 india includes total 4 mergers. The 4 Banks were Indian Bank, Canara Bank, Punjab National Bank and Union Bank of India. The Amalgamated Banks were Syndicate Bank, United Bank of India, Oriental Bank of commerce, Allahabad Bank, Andhra Bank, Corporation Bank.
The remaining banks after merger in 2019 are listed below
- State Bank of India
- Punjab National Bank
- Punjab and Sind Bank
- Indian Overseas Bank
- Bank of India
- Bank of Baroda
- Indian Bank
- Central Bank of India
- Canara Bank
- Union Bank of India
- UCO Bank
- Bank of Maharashtra
Bank Merger list 2020 India
The government announced mega merger in 2019. But the Bank merger was effected from 1 April 2020. In 2020, Yes bank one of Private Bank operating in India was takeover by State Bank of India. The Banks merger and amalgamation is common in Indian Banking Industries.
In Mega Merger Allahabad Bank was amalgamated with Indian Bank. The New Bank will use name of Indian Bank. So anchor Bank in This merger was Indian Bank.
The Punjab National Bank was amalgamated with Oriental Bank of India. Oriental Bank of commerce also known as OBC Bank. The PNB Bank was also amalgamated with United Bank of India. So total 2 Banks were amalgamated with Punjab National bank. In this merger Punjab National Bank was anchor Bank.
The Andhra Bank and corporation Bank was amalgamated into Union Bank of India. in This merger the anchor bank was Union bank of India.
The Bank Merger List 2019 India was shown below in table,
|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|
The PSU Bank’s Mega Merger happened in 2019. The mega merger was biggest reshuffle between PSU Banks. Bank Merger List 2019 India involved 10 nationalized Banks. The Amalgamation was announced in 2019 by Government of India. If you want any news regarding PSU Bank Mega Merger or Bank Merger List 2019 India then comment down. We will help you as soon as we can.