Bank Merger: Big news on the merger of PSU Banks, 4 small government banks will be merged, government has prepared a plan
PSU Bank Merger: According to sources, the government's plan for round 2 of the merger of PSU banks is ready. 2 options have been considered for the merger of 4 small government banks.
PSU Bank Merger: There is big news related to the merger of government banks. According to sources, the government's plan for round 2 of the merger of PSU banks is ready. 2 options have been considered for the merger of 4 small government banks. The government is preparing to amend the Banking Regulation Amendment Act for the merger.
PSU Bank Merger: Two options for bank merger
According to sources, the government has prepared a plan for round 2 of the merger of PSU banks. 2 options will be considered for the merger of four small government banks. In the first option, the merger of UCO Bank, Bank of Maharashtra, and the merger of Punjab & Sind Bank, and Central Bank of India can be done. The second option is to merge with Union Bank of India, Canara Bank, or Indian Bank according to the banking software.
For the merger, the government is preparing to amend the Banking Regulation Amendment Act. The functioning of UCO Bank, Punjab & Sind has improved in 2-3 years. At the same time, the functioning of the Bank of Maharashtra, Central Bank has also improved in 2-3 years.
Government's share in PSU banks
Let us tell you that the government has a 98.25% share in Punjab & Sind Bank. The government has 93.08% in Central Bank, 86.46% in Bank of Maharashtra, and 10% in UCO Bank 95.39% share.
Merger of 10 government banks in 2019
The government announced the merger of 10 public sector banks into four entities in 2019. This was part of the government's policy to strengthen public sector banks (PSU Bank Mergers) to strengthen their finances for a strong national presence and global reach.
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