Descriptive Writing: Sample essay for SBI PO and UIICL AO.
The government on Friday announced the mega-merger of 10 PSU banks into four, where the Punjab National Bank, the Oriental Bank of Commerce and the United Bank to merge become the second-largest PSB while the Canara Bank and the Syndicate Bank will amalgamate to make the fourth-largest PSU bank entity. Aug 30, 2019, 23:32 PM IST.
Investors have driven up the stocks of the listed associates of State Bank of India (SBI) by as much as 63% in the past month, ever since their merger with the parent was announced.
State Bank of India’s five associate banks will be merged with SBI from 1st April, 2017. This is the biggest merger yet in the Indian banking industry. Good :-With this move, SBI’s assets will be 37 lakh crore rupees with nearly 50 crore customer base. Hence SBI’s rankings will go up in global banking stage.
Earlier, in 1990s the bank had taken over two sick co-operative banks — Bari Doaba Bank, Hoshiarpur and Punjab Co-operative Bank, Phagwara. For a relatively peaceful north Indian bank, merger with a 100-branch GTB was an eventful moment, said a bank official. OBC had around 1,000 branches and the number went up with the merger. The bank began its journey on February 19, 1943 from Lahore.
Along with the merging of the two industries comes change for everyone involved. There is a lot of competition in the banking industry, which is the main reason for so many bank mergers. Bank mergers can improve competition and can be beneficial to the community if both financial institutions are in agreement with doing what is best for everyone involved. Banks should consider other options.
The macroeconomic impact of the SBI merger. The merger of the State Bank of India and five of its associate banks has immensely positive implications for the Indian banking system. However, there are a few challenges ahead. By. Over all these years, one thing which has stayed constant has been the trust of the people in SBI. By Kabir Narang. The Union Cabinet just approved the merger of State.
Five associate banks to merge with SBI from April 1 All the five associates will merge with State Bank of India from April 1, in the largest consolidation exercise in the banking history of India.