Exclusive! Mega PSU banks' merger to get delayed by at least 6 months, says source
Last year, Sitharaman had announced the merger of 10 public sector banks into four large banks. According to the government's plan, Punjab National Bank will merge with United Bank and Oriental Bank of Commerce, Syndicate Bank to merge with Canada Bank, Allahabad with Indian Bank, while Andhra Bank, Corporation Bank will be consolidated with Union Bank of India.
The mega-merger of 10 public sector banks into four large banks announced last year will not see the light of the day until Oct 1, Photo: Reuters