Suresh N Patel, ex-CEO of Andhra Bank, takes oath as vigilance commissioner via video conferencing due to coronavirus lockdown
Eminent banker Suresh N Patel on Wednesday took oath as the Vigilance Commissioner in the anti-corruption watchdog CVC, officials said.
State-owned Punjab National Bank (PNB) on Tuesday said it has received approval from stock exchanges for trading of over 266 crore shares post amalgamation with two other PSBs
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
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
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
State-owned Oriental Bank of Commerce (OBC) on Thursday reported a 39.11 percent jump in net profit at Rs 201.66 crore for the quarter ended December 2019, mainly due to reduction in bad loans
The appellate tribunal's direction came over a petition filed by the government through the Ministry of Corporate Affairs (MCA) challenging the NCLT order.
Mega merger of PSBs: Employees unions of state-run banks to stage sit-in before Parliament on 10 December
In August this year, the government announced its plan to merge 10 PSBs into four to create fewer and stronger global-sized banks.
Punjab National Bank and Union Bank of India on Monday said they have received in-principal approval from the government for their amalgamation with other public sector banks
The proposed merger, expected to be effective from 1 April next year, will lead to the creation of the country's second-largest lender after State Bank of India, with a total business volume of about Rs 18 lakh crore
Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
The complete harmonisation among the three entities would take another 12 to 14 months after the merger
Govt appoints former Syndicate Bank executive director SS Mallikarjuna Rao as PNB managing director till September 2021
The government on Tuesday appointed S S Mallikarjuna Rao as managing director of Punjab National Bank in place of Sunil Mehta.
Mehul Choksi a 'crook', Indian officials have the right to interrogate him, says Antigua PM Gaston Browne
Antigua and Barbuda Prime Minister Gaston Browne on Wednesday (local time) assured that fugitive diamantaire Mehul Choksi will be extradited after he exhausts all his appeals in the country
PNB loan fraud: Oriental Bank declares Nirav Modi, uncle Mehul Choksi wilful defaulters; reveals loan exposure to diamantaires
Modi's companies Firestar International and Fire Star Diamond International did not repay Oriental Bank's loans of Rs 60.41 crore and Rs 32.25 crore, respectively.
PNB board approves amalgamation with OBC, United Bank; clears capital infusion of up to Rs 18,000 cr by govt
The board of Punjab National Bank (PNB) has given in-principle approval for amalgamation of Oriental Bank of Commerce and United Bank of India with PNB
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.
Multiple bank account holders under scanner, govt likely to put cap on number of accounts via legislation
The official notes verified by Firstpost suggest that multiple bank accounts opened in the same city or different parts of the country are being used by some unscrupulous elements to spread out revenue receipts.