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Bank mergers News

10 Jul 2021

Alert! THESE banks’ IFSC codes remain invalid: Here’s how to make a new one

The old IFSC codes will remain invalid for online transactions through NEFT, RTGS or IMPS routes. Syndicate Bank, Allahabad Bank, Dena Bank, United Bank of India, Vijaya Bank, the Oriental Bank of Commerce, Andhra Bank and Corporation Bank are those public sector banks whose mergers have already been announced. Due to this, the account holders in these banks will be asked to update their IFSC codes on the web portal to continue availing online banking facilities.

24 Aug 2017

Employees should be kept on board during bank mergers: SBI

In the backdrop of the government approving constitution of an alternate mechanism to oversee proposals of bank mergers, State Bank of India Managing Director Dinesh Khara on Thursday said the employees must be kept on board to alleviate their concerns during the process of consolidation.

03 Feb 2017

Merger of weak PSU banks can be a possibility: UBI CEO

Merger of weak public sector banks cannot be ruled out in a run up to meet Basel III norms, a top bank official said today.

24 May 2016

Govt's solution for bad loans: Merge state-owned banks to 6 from 27

Vinod Rai, a 68-year-old former auditor general of India, said consolidation has already begun with State Bank of India`s move to absorb five subsidiaries and Bharatiya Mahila Bank, a bank for women set up in 2013.

10 May 2016

Any merger initiative has to come from board of banks: Jayant Sinha

The government Tuesday set the record straight on merger of public sector banks, saying any initiative has to come from the board of the banks concerned, and its role is that of a facilitator.

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