Bank Merger

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

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

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

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

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

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

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

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

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

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