Sunday, July 25, 2021
Home Business Now Only 12 Government Banks Will Remain In The Country, Knowing Which...

Now Only 12 Government Banks Will Remain In The Country, Knowing Which Banks Will Merge

Taking a big decision, the central government has announced a merger of several banks. With this big announcement by the central government, now the number of public sector banks in the country will come down to 12. While Dena Bank and Vijaya Bank merged at the beginning of this financial year, a total of four major mergers, including 10 banks, were announced on Friday.

Finance Minister Nirmala Sitharaman announced the merger of banks on Friday. He said that United Bank, Oriental Bank of Commerce and Punjab National Bank will merge. On the other hand, Canara Bank and Syndicate Bank will merge. The third major merger will be Union Bank, Andhra Bank, and Corporation Bank, while Indian Bank will merge with Allahabad Bank.

Now instead of these 10 banks, there will be only four nationalized banks, while the number of state-run banks in the country will be only 12, including the eight other nationalized banks already in place. Let us know which government banks will be left in the country now:

Pre-existing public sector banks which exist alone

  • State Bank of India (SBI)
  • Central Bank of India
  • Bank of India
  • Bank of Maharashtra
  • Uco bank
  • Punjab and Sindh Bank
  • Indian Overseas Bank
  • Bank of Baroda (After the merger of Dena Bank and Vijaya Bank)

According to the new announcement of the central government, these banks are merging

  • Punjab National Bank + Oriental Bank of Commerce + United Bank
  • Canara Bank + Syndicate Bank
  • Union Bank of India + Andhra Bank + Corporation Bank
  • Allahabad Bank + Indian Bank

Learn, what announcements did Finance Minister Nirmala Sitharaman make
50 years ago on July 1969, the then Prime Minister Indira Gandhi nationalized 14 private banks. Many private and nationalized banks grew in five decades and now after the central government’s new announcement, there will be 12 government banks in the country. After the merger, the total business of these banks will be Rs 55.81 lakh crore. After the merger of banks, their ranking will also increase.

Major announcements of Finance Minister:

  • The Finance Minister said that the banks have made announcements in the interest of consumers.
  • The merger of Oriental Bank of Commerce and United Bank into Punjab National Bank.
  • Canara Bank and Syndicate Bank will merge.
  • Indian Bank and Allahabad Bank will merge.
  • Union Bank, Andhra Bank, and Corporation Bank will merge.
  • The number of public sector banks declined from 18 to 12.
  • Work continues on the five trillion dollar economy.
  • Three lakh fake companies have been closed.
  • Many major reforms have been made in banks.
  • Banks will operate with good management.
  • Will keep an eye on the loan of more than 250 crores.
  • Agency will be formed to monitor large loans.
  • Action will continue on the property of the fugitives.
  • Scheme of more loan in less time.
  • Vigilance to stop cases like Nirav Modi.
  • So far eight public sector banks have introduced repo rate based interest rate.
  • Four NBFCs have received help from public sector banks in difficult circumstances.
  • NPAs of banks have declined.
  • NPA has come down to Rs 7.90 lakh crore.
  • 14 out of 18 state-run banks have increased profits.
  • Employees in banks have not been retrenched.
  • Loan recovery is at a record level.

The Government May Cut Excise Duty On Petrol, Diesel By Up To Rs 8.5 Per Liter

The government has the scope to cut excise duty on petrol and diesel by up to Rs 8.50 per liter. Analysts believe that this...

Bitcoin May Be Banned In India, Will RBI Bring Digital Currency?

In the past, the price of bitcoin has reached a high level in the international market. But the Indian government is going to clamp...

The government should make a policy to shift 30 crore Indians trapped in 2G and on a smartphone – Mukesh Ambani

• Able to prepare for 5G launch in the second half of 2021 • India will become self-sufficient in hardware along with software • The country...


Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Uttarakhand: Roadshow of Chief Minister Pushkar Singh Dhami in Rudrapur, enthusiasm among workers

Chief Minister Pushkar Singh Dhami is on a tour of Udham Singh Nagar district since Friday. When the Chief Minister reached Rudrapur on Friday,...

Terrorist conspiracy foiled: Drone shot down by police in Jammu and Kashmir, 5 kg IED recovered

A Pakistani drone has been shot down by the police in the Kanachak area of ​​Jammu and Kashmir. According to news agency ANI, five...

CM Dhami’s big announcement regarding Devasthanam board, the government in favor of amending the act, the decision will be taken soon

Uttarkashi. CM Dhami said that a high-level committee is being constituted regarding the Act. This committee will give its recommendation after discussion with all....

Satpal Maharaj filled the enthusiasm among BJP workers, said that the workers are more concerned about the country than the family

Chamoli. Bharatiya Janata Party is a party of such workers who care more about the country than their family. He is engaged in the...

Dhami government’s firm intention to fill 24 thousand vacant posts focus on connecting youth with self-employment

Dehradun. Since coming to power in his hands, the focus of Chief Minister Pushkar Singh Dhami is to open new jobs in government and...

Shilpa Shetty’s husband Raj Kundra was arrested for making porn movies and uploading on the app, know-how Raj Kundra used to run this hoax

Mumbai. Shilpa Shetty's husband Raj Kundra has been arrested for making porn movies and uploading them on the app. He has been arrested by...

Chief Minister Pushkar Singh Dhami’s visit to Kedarnath and Rudraprayag canceled

Dehradun. Today's tour program of Chief Minister Pushkar Singh Dhami to Kedarnath and Rudraprayag has been canceled in view of heavy rains and disasters...

Uttarakhand: Government extends Covid curfew till July 27, cinema halls will open with 50 percent capacity

Despite the decreasing corona cases in Uttarakhand, the government is not in a mood to give much laxity. The government has extended the corona...

Sharad Pawar met PM Narendra Modi in Delhi, once again the round of speculation started

National Congress Party (NCP) chief Sharad Pawar met Prime Minister Narendra Modi in Delhi on Saturday (July 17). After this, a period of speculation...

Uttarakhand: Chief Minister Mahalaxmi Yojana will start in the state today, CM Dhami will launch

Mukhyamantri Mahalaxmi Yojana will start in Uttarakhand from today. Chief Minister Pushkar Singh Dhami will launch the scheme from CM Awas. Women Empowerment and...