If you are looking for the Complete Bank Merger List PDF then you are in the right place. At the end of this post, we added a button to download the List of Merged Banks PDF for free.
Why do Banks merge?
India had many small banks operating as separate entities. They often depended on the government’s aid, which added to its burden. According to the Reserve Bank of India, merging most of these banks would pave the way to building a robust, well-funded, and global banking system.
In August 2019, it was announced that 10 public sector banks would be merged into 4. After this, 4 more mergers were announced. In total, there are 12 public sector banks operating after the bank merger in India.
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.
List of Public Sector Banks
As of today, India has 12 public sector banks. Including the 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
|Sr.No||Merged Into (Anchor Banks)||Banks Merged||Merger Year|
|1.||Bank of Baroda||Dena Bank |
|1st April, 2019|
|2.||Canara Bank||Syndicate Bank||1st April, 2020|
|3.||Indian Bank||Allahabad Bank||1st April, 2020|
|4.||Punjab National Bank||Oriental Bank of Commerce|
United Bank of India
|1st April, 2020|
|5.||State Bank of India||State Bank of Bikaner And Jaipur|
State Bank of Hyderabad
State Bank of Mysore
State Bank of Patiala
State Bank of Travancore
Bharatiya Mahila Bank
|1st April, 2017|
|6.||Union Bank of India||Andhra Bank|
|1st April, 2020|