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

[Lalitsharma]

Post-merger, PNB will become the second-largest public sector bank in India with a deposit market share of 8.0%.

[Lalitsharma]

The amalgamation procedure will take some time and the new element will begin working from April 1, 2020.

[Vikesh]

Finance Minister Nirmala Sitharaman had on August 30 announced the consolidation of 10 state-run banks into four large-scale lenders.

[Lalitsharma]

The government last month announced the merger of 10 public sector banks into four strong lenders with countrywide networks and global reach to boost credit and revive economic growth in the nation's bid to become a $5 trillion economy in the next five years.