Government of India's proposed merger of 27 PSBs into 6

Below the name of Public sector Banks with the Anchor Bank (with which other Banks will get merged). 

1. State Bank of India (Anchor Bank)

• State Bank of Hyderabad
• State Bank of Patiala
• State Bank of Travancore
• State Bank of Bikaner & Jaipur
• State Bank of Mysore

2. Punjab National Bank (Anchor Bank)

• Oriental Bank of Commerce
• Allahabad Bank
• Corporation Bank
• Indian Bank

3. Canara Bank (Anchor Bank)

• Syndicate Bank
• Indian Overseas Bank
• UCO Bank

4. Union Bank of India (Anchor Bank)

• IDBI Bank Ltd
• Central Bank of India
• Dena Bank

5. Bank of India (Anchor Bank)

• Andhra Bank
• Bank of Maharashtra
• Vijaya Bank

6. Bank of Baroda (Anchor Bank)

• United Bank of India
• Punjab & Sind Bank
• Bhartiya Mahilla Bank

Under direction of RBI, the clearing of cheques would be done on the same day in house where cheque is deposited i.e. with any Bank whether Nationalised & co - operative etc. and while screening if there is insufficiency of fund the bounced cheque cannot be represented again & payee if need be will have to file legal complaint under section 138.