Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said.
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
In March, Canara Bank had said Krishnan will be appointed as executive director with effect from 1 April 2020 till 31 October 2020, or until further orders.
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
Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless
Experts said bank merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks are exuding confidence.
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
In order to provide relief to its customers affected by lockdown in various parts of the country due to COVID-19, state-run Canara Bank on Wednesday announced a full waiver of service charges for any number of withdrawal from other bank's ATMs up till 30 June, 2020
Public sector banks with about 80 percent of banking operation have taken steps to ensure the safety of its staff and uninterrupted banking services to customers.
The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from 1 April, 2020
Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending
According to a senior banker, information technology integration of Vijaya Bank and Dena Bank with Bank of Baroda is still in process even after 10 months of merger.
Essar Steel insolvency case: Crisis-hit company's promoters will have to pay about Rs 8,000 cr as banks set to recover claims
The Essar case, which was among the first 12 cases to be referred by the Reserve Bank of India (RBI) for resolution, faced several hurdles as its promoter Prashant Ruia also tried to bid for the company and moved the appellate tribunal for rejection of the ArcelorMittal's Rs 42,000 crore bid
Post-merger of Syndicate Bank, Canara Bank turnover will be Rs 15 lakh crore, says Chairman TN Manoharan
Canara Bank Chairman TN Manoharan said his bank was having a business of Rs 10 lakh crore and the Syndicate Bank Rs 5 lakh crore.
What to expect from September quarter GDP data, Mudra loans turn NPAs; read this and more on Moneycontrol Pro
Ahead of the September quarter data release, economists seem to be engaged in a game of competitive devaluation of the GDP growth estimate, putting it between 4.2 and 4.7%, at constant prices.
Has tax cut fuelled market rally run its course, Bharat Forge finds going tough; all this and more on Moneycontrol Pro
Bharat Forge is finding the going tough due to a difficult operating environment for the global and domestic automobile industry.
State-owned Canara Bank on Wednesday reported a rise of 14 percent in its consolidated net profit at Rs 405.49 crore for the second quarter ended September amid fall in bad loans and healthy income from operations
In 2019, the RBI reduced the repo or short-term lending rate by 110 basis points (bps), but the banks have reportedly passed on only up to 40 bps to borrowers
Firstpost Editor's Picks: DK Shivakumar arrested, final NRC list in Assam, US Open 2019; today's must-read stories
Firstpost Editor's Picks: Congress leader DK Shivakumar arrested, Final NRC list excludes 19 lakh in Assam, Grigor Dimitrov in US Open 2019; today's must-read stories
Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?
For better understanding, let’s look at the share movement of the acquiring banks or the anchor banks involved in the merger process.
Public sector lender Canara Bank on Wednesday said its board will meet next week to consider capital infusion of up to Rs 9,000 crore through issuance of preferential equity shares to the government of India
Opposing the merger of banks, officers associations of various banks will meet in the national capital on 5 September to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday