Wednesday, November 13, 2019
News

PNB, Oriental Bank and United Bank to be merged: Sitharaman

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | August 30, 2019 5:11:32 PM IST
The government on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India to create the second-largest banking network in the country with 11,431 branches.

"Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with the business of Rs 17.95 Lakh crore," Finance Minister Nirmala Sitharaman said at a press conference here.

She said the creation of next-generation banks was imperative for India to become a US dollar 5 trillion economy in the next five years.

She said that the NPAs of banks have come down due to the measures taken by the government to strengthen the financial sector.

"The NPAs have come down from Rs 8.65 lakh crore in December 2018 to Rs 7.90 lakh crore now," she said. (ANI)

 
  LATEST COMMENTS (1)
POST YOUR COMMENT
Hitesh (Mumbai)
Not a good news, because if these banks or merged many employees will be jobless ... http://bit.ly/2LcLvq4
Saturday, August 31, 2019 3:25:49 PM | Reply
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Finance panel grills FinMin on DeMo, sta...
Moody's assigns Ba3 rating to Tata Motor...
'India-ASEAN bilateral trade to reach $3...
FinMin asks ministries to furnish R&D fu...
Jammu-Srinagar Highway opens for traffic...
Another whistleblower guns at Infosys' S...
More...
 
INDIA WORLD ASIA
CJI under RTI? SC to decide on Wednesday...
Waiting for BJP reply to our demands: AJ...
Let them have a Nikaah first: Owaisi tak...
NIA arrests absconding LeT operative...
Odisha CM announces award after Suraj, w...
Hyderabad : Police constable G. Shiva Ku...
More...    
 
 Top Stories
ATC charges TLP chief in violent pr... 
Insect flower pollination began 99m... 
Maharashtra Governor's move politic... 
Teenage anxiety leads to harmful dr... 
Punjab CM to urge Modi for access t... 
Nawaz Sharif's departure to London ... 
Shiv Sena moves SC against Maha Gov... 
Controversy over Goa CM's land in M...