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Merged Entity Of PNB, OBC And United Bank To Become Operational By Next April

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  • Merged Entity Of PNB, OBC And United Bank To Become Operational By Next April

    Ashok Kumar Pradhan, Managing Director, and CEO, United Bank of India

    HR and IT integration, the key challenge: United Bank chief Ashok Kumar Pradhan, Managing Director, and CEO, United Bank of India, on Saturday said that though the merger of the bank with Punjab National Bank and Oriental Bank of Commerce is likely to come into force from April 1, 2020, the integration of HR and IT is expected to take more time.

    “Though the balance sheet merger is likely to happen by April 1, 2020, it will take another 3-6 months post that for the HR and IT integration to be complete,” Pradhan told newspersons to post an interactive meet with the Kolkata-based employees and customers of the three banks.

    The complete harmonization among the merged entities would take another 12-14 months post-merger, he added. The meeting was also attended by the senior officials of PNB and OBC.

    While the board of PNB has given in-principle approval for the amalgamation, United Bank and OBC will seek board approval on September 18.

    The merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India is likely to create the second-largest bank in India. Before the proposed merger, the amalgamated entity’s capital adequacy ratio would be over 13 percent.

    The merged entity will have a “huge appetite for growth” and would be equipped with sufficient funds to finance large projects, he said.

    The bank officials clarified that there has been ‘no restrictions’ on any of the three banks for fresh lending before the merger takes place.


  • #2
    This is great thing for the Indian community, Now we don't have to go to many places for reaching every bank we can do our transaction in one bank.
    Last edited by Nitin Kumar; 09-16-2019, 04:12 PM.

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    • #3
      Originally posted by Nitin Kumar View Post
      This is great thing for the India community, Now we don't have to go to many places for reaching every bank we can do our transaction in one bank.
      Now its time to move with the latest technology and make smarter India.

      Comment


      • #4
        Originally posted by Lalitsharma View Post

        Now its time to move with the latest technology and make smarter India.
        YUP, Smarter the banking reducing of money problems.

        Comment


        • #5
          Originally posted by Lalitsharma View Post

          Now its time to move with the latest technology and make smarter India.
          Do smart work not hard work. !

          Comment


          • #6
            Now we can save our time...

            Comment


            • #7
              it is a drastic change in the Indian banking system. However, it is beneficial for the public to do any kind of transaction without going to different branches.

              Comment


              • #8
                This is good to obtain all the services from one platform.

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                • #9
                  The amalgamation process will take some time and the new entity will start functioning from April 1, 2020

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                  • #10
                    Originally posted by Gaurav Verma View Post
                    Now we can save our time...
                    The main focus is only time saving.

                    Comment


                    • #11
                      The combined entity of PNB, OBC and United Bank will have a business size of nearly 18 lakh crore

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                      • #12
                        Real Digital India is on the way

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                        • #13
                          Seems really confusing to me, hope with this move Banks will improve their work system which is down most of the time.
                          It’s better to give than to receive. Especially advice

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                          • #14
                            Originally posted by MiniGupta View Post
                            Seems really confusing to me, hope with this move Banks will improve their work system which is down most of the time.
                            Govt also planned to implement blockchain technology in many sectors like Banking and Health sector etc.

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                            • #15
                              Punjab National Bank (PNB), which is the major bank for a scheduled merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC), has said that it does not see any erosion in asset quality after the merger and the best HR, process and products will be chosen for the consolidated entity to offer a win-win situation for the combined staff and customers of these three banks.
                              Founder & Creative Mind of Megrisoft
                              www.indiabook.com
                              Business
                              Please Do Not Spam Our Forum

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