Bank Merger

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Bank Merger - Total results - 25
Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
Business

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday

Merger of 10 PSU banks comes into effect from today; 10 things you need to know about implications of govt's move
Business

Merger of 10 PSU banks comes into effect from today; 10 things you need to know about implications of govt's move

10 PSU banks are being amalgamated with a larger bank, referred to as the anchor bank

Despite coronavirus lockdown, merger of 10 PSU banks to come into effect from 1 April as planned, says RBI
Business

Despite coronavirus lockdown, merger of 10 PSU banks to come into effect from 1 April as planned, says RBI

The RBI has revealed that the scheme of merging 10 PSU banks into four bigger lenders is on schedule despite the country-wide coronavirus lockdown and will come into force from 1 April, 2020

Mega bank consolidation on track; to take effect from 1 April, says finance minister Nirmala Sitharaman
Business

Mega bank consolidation on track; to take effect from 1 April, says finance minister Nirmala Sitharaman

The government on Thursday said the mega bank consolidation plan is very much on track and will take effect from April 1 despite the onslaught of coronavirus pandemic throwing the country out of gear

No uncertainty about bank merger; going on as per schedule, says Finance Minister Nirmala Sitharaman
Business

No uncertainty about bank merger; going on as per schedule, says Finance Minister Nirmala Sitharaman

Even after Cabinet approval to the proposed bank merger plan, officials said, fixation of share swap ratio, shareholders consent and other regulatory approvals are expected to take at least 30-45 days.

Govt likely to notify merger of 10 PSU banks this week; all lenders to complete amalgamation procedures by April
Business

Govt likely to notify merger of 10 PSU banks this week; all lenders to complete amalgamation procedures by April

The banks will need to follow regulatory formalities to protect the interest of minority shareholders. Each bank is required to follow the regulatory norms to protect the interests of minority stakeholders.

HDFC acquires 9.89% stake in Bandhan Bank as part of merger scheme; over 15.93 cr shares transferred to mortgage firm
Business

HDFC acquires 9.89% stake in Bandhan Bank as part of merger scheme; over 15.93 cr shares transferred to mortgage firm

Earlier this month, Bandhan Bank merged with Gruh Finance, which brought down the shareholding of the promoter from 82.26 percent to 60.96 percent.

Lakshmi Vilas Bank-Indiabulls Housing Finance proposed merger gets a clear No from Mint Road
Business

Lakshmi Vilas Bank-Indiabulls Housing Finance proposed merger gets a clear No from Mint Road

The application for the merger of Lakshmi Vilas Bank and India Bulls Housing Finance was made in May after both the parties agreed to the merger in April.

SBI mulls to approach RBI for clarification on lender’s plan to offer fixed-floating rate home loans
Business

SBI mulls to approach RBI for clarification on lender’s plan to offer fixed-floating rate home loans

At present, SBI has a floating rate home loan product linked to its marginal cost of funds-based lending rate and it recently withdrew one linked to the repo rate.

There will not be a single job loss due to merger of banks, assures Nirmala Sitharaman
Business

There will not be a single job loss due to merger of banks, assures Nirmala Sitharaman

The merger of banks will bring down the number of state-run banks to 12 from 19 after the merger of Dena Bank and Vijaya Bank with Bank of Baroda effective April 2019.

Mega bank merger announcement: Govt to amalgamate 10 public sector banks into four large entities
Business

Mega bank merger announcement: Govt to amalgamate 10 public sector banks into four large entities

After the bank merger, only 12 PSBs will be left in India from the 27 earlier

IndusInd Bank promoters to pump Rs 2,700 crore via warrants to ramp up promoter holding post-merger with Bharat Financial
Business

IndusInd Bank promoters to pump Rs 2,700 crore via warrants to ramp up promoter holding post-merger with Bharat Financial

The merger between IndusInd Bank and the micro-lender, which will be effective 4 July is accretive from a profit, margin and return on equity perspective

Despite weaker Dena Bank, Bank of Baroda has minimal impact on NPAs post-merger, says CEO PS Jayakumar
Business

Despite weaker Dena Bank, Bank of Baroda has minimal impact on NPAs post-merger, says CEO PS Jayakumar

The amalgamation of Dena and Vijaya with BoB is the second merger during the past five years

Bank of Baroda is now third largest lender as Dena, Vijaya Bank merger take effect from 1 April
Business

Bank of Baroda is now third largest lender as Dena, Vijaya Bank merger take effect from 1 April

State-run Bank of Baroda is catapulting itself for a larger play in the system with the merger of Dena Bank and Vijaya Bank with itself from Monday.

BoB-Dena-Vijaya Bank merger: Amalgamation to create second largest PSB; here is how things will change for customers
Business

BoB-Dena-Vijaya Bank merger: Amalgamation to create second largest PSB; here is how things will change for customers

The government in September last year had announced the merger of Vijaya Bank and Dena Bank with BoB, aiming to create the third-largest lender after SBI and ICICI Bank.

Supreme Court refuses to stay merger of Vijaya, Dena Bank with Bank of Baroda, dismisses applications by bank officers' associations
Business

Supreme Court refuses to stay merger of Vijaya, Dena Bank with Bank of Baroda, dismisses applications by bank officers' associations

The proposed amalgamation will make Bank of Baroda the second largest public sector bank after State Bank of India

Arun Jaitley says India needs fewer, mega banks to achieve economies of scale in post-Budget address to RBI board
Business

Arun Jaitley says India needs fewer, mega banks to achieve economies of scale in post-Budget address to RBI board

Finance Minister Arun Jaitley on Monday said India needs fewer and mega banks to achieve economies of scale in the sector

Public sector bank strike today, around 10 lakh employees to participate; services impacted
Business

Public sector bank strike today, around 10 lakh employees to participate; services impacted

The strike has been called to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda.

Finance Ministry's Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger
Business

Finance Ministry's Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger

The 'Alternative Mechanism' (AM) headed by Finance Minister Arun Jaitley had decided to merge three banks with a view to creating a global size lender, which will be stronger and sustainable.