Indian Bank and Allahabad Bank to merge to create 7th largest public sector bank with Rs 8.08 lakh cr business: FM

Finance Minister Nirmala Sitharaman has announced that 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.

She also announced the merging of Canara Bank with Syndicate Bank that will be the fourth largest Public Sector Bank with a business of Rs 15.20 lakh crores.