With the help of this post, I want to give you information about the major bank merger list in India.
The government of India has combined 10 public sector banks into 4 banks. The announcement of this mega-merger was made by Union Finance Minister Nirmala Sitharaman in 2019.
The main purpose of the government is to consolidate 10 public sector banks into 4 banks to manage the capital more effectively and improve the NPA of some banks.
Before 2017 there were 27 public sector banks but after having merged there are only 12 public sector banks.
Now let’s move to the list of mergers of banks in India and at the end of this post, we have shared a link to download bank merger list PDF.
Bank Merger List India
As of today, India has 12 public sector banks. Including 2 largest public sector banks, the State Bank of India (SBI) and the Bank of Baroda (BOB).
Here is the list of Public Sector Banks in India.
- State Bank of India (SBI)
- Bank of Baroda (BOB)
- Bank of India (BOI)
- Central Bank of India (CBI)
- Punjab National Bank (PNB)
- Canara Bank (CB)
- Union Bank of India (UN)
- Indian Bank
- Indian Overseas Bank
- UCO Bank
- Bank of Maharashtra
- Punjab and Sind Bank
Bank Merger List India 2020-2021
In the past two years, these major bank mergers held.
- Punjab National Bank (PNB) will take over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country’s largest lender after State Bank of India (SBI).
- Canada Bank will take over Syndicate Bank as an anchor bank.
- Union Bank of India take over Andhra Bank and Corporation Bank on 1 April 2020.
- Indian Bank will see itself taking over Allahabad Bank
| # | Acquiring bank | Amalgamated bank | Acquisition Date |
|---|---|---|---|
| 1 | Indian Bank | Allahabad Bank | 1-Apr-20 |
| 2 | Punjab National Bank | Oriental Bank of Commerce | 1-Apr-20 |
| 3 | Punjab National Bank | United Bank | 1-Apr-20 |
| 4 | Union Bank of India | Andhra Bank | 1-Apr-20 |
| 5 | Union Bank of India | Corporation Bank | 1-Apr-20 |
| 6 | Canara Bank | Syndicate Bank | 1-Apr-20 |
| 7 | State Bank of India | State Bank of Bikaner & Jaipur | 31-Mar-17 |
| 8 | State Bank of India | State Bank of Hyderabad | 31-Mar-17 |
| 9 | State Bank of India | State Bank of Mysore | 31-Mar-17 |
| 10 | State Bank of India | State Bank of Patiala | 31-Mar-17 |
| 11 | State Bank of India | State Bank of Travancore | 31-Mar-17 |
| 12 | State Bank of India | Bharatiya Mahila Bank | 31-Mar-17 |
To download All Bank Merger List PDF, please click on the below button.