Sunday, 16 September 2018

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.


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