Merger Bank List For Consolidation Of Public Sector Banks

The finance minister decided to merge the large public sector banks for the growth of the banking sector by reducing the number of banks. As in the previous PSB merger, the SBI its subsidiary banks and Bhartiya Mahila Bank is merged and become the largest PSB in India. The advantage of the merger is that it increases the bank funds as the bank merged along with their funds and reduces the non-processing asset (NPA) ratio. To know the list of bank merger read the given article. 

Top PSB and their merger bank list 

In the second PSB merger, the 10 PSBs would be converted into 4 to offer more bank branches and better services to the customers. Look at the below mentioned merger bank list to know with which bank the top PSB are going to merge. 

Canara Bank: To control the NPA ratio of Canara Bank it is merging with Syndicate bank to widen the bank branches and lending capacity. In the merger bank list, the Canara Bank and Syndicate Bank amalgamation is decided by the finance minister Nirmala Sitharaman. The merger would provide a turn over of INR 15.20 lakh crore according to the trade analysts. And after the merger, the bank would become the 4th largest PSB in India. 

Punjab National Bank: According to the list of bank merger, PNB is going to merge with the Oriental Bank Of Commerce and United Bank Of India. The merger will provide the benefit of more funds and increase the lending capacity and decrease the NPA ratio of PNB. After the merger it becomes the 2 largest PSB in India. 

Allahabad Bank: In the 2 PSB merger Indian Bank is consolidating with Allahabad Bank to offer higher lending capacity high funds and lower NPA rates. The amalgamation would provide the benefit of INR 8.08 lakh crore business. 

Union Bank Of India: Merger of Andhra and Corporation Bank with Union Bank Of India in the merger bank list of 2 PSB merger. And, this merger will provide INR 14.95 lakh crore business to the bank and make Union Bank Of India 5th largest PSB. 

Why is the PSB merger needed and what are its benefits?

The aim of the merger is to support the public sector banks who are facing downfall due to high NPA ratio and aren't able to serve the customers. That is why the finance minister Nirmala Sitharam decided to make a merger bank list in which all the top public sector banks would be merged with the commercial and regional banks. You can estimate the success of the list of bank merger from the first merger that is between Bank Of Baroda, Vijaya Bank and Dena Bank is an example of a successful PSB merger. So, the merger is beneficial for both the customers and banks for higher growth in their financial needs. Because, if the banks get a lower NPA only then it will be able to provide you the desired loan amount. All in all, the PSB merger bank list is apt for the customers and banks for a better banking experience.