{"id":8677,"date":"2020-03-06T05:55:53","date_gmt":"2020-03-06T05:55:53","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=8677"},"modified":"2020-03-06T05:55:55","modified_gmt":"2020-03-06T05:55:55","slug":"cabinet-approves-mega-consolidation-in-public-sector-banks","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/cabinet-approves-mega-consolidation-in-public-sector-banks\/","title":{"rendered":"Cabinet approves Mega Consolidation in Public Sector Banks"},"content":{"rendered":"\n<p>The Union Cabinet, chaired by the Prime Minister, Shri\nNarendra Modi has approved the mega consolidation of ten PSBs into four which\ninclude the \u2013<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/current-affairs-quiz-2019-daily-gk\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Daily Current Affairs Quiz 2020<\/strong><\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Amalgamation of Oriental Bank of Commerce and\nUnited Bank of India into Punjab National Bank<\/li><li>Amalgamation of Syndicate Bank into Canara Bank<\/li><li>Amalgamation of Andhra Bank and Corporation Bank\ninto Union Bank of India<\/li><li>Amalgamation of Allahabad Bank into Indian Bank<\/li><\/ul>\n\n\n\n<p>The amalgamation would be effective from 1.4.2020 and would\nresult in creation of seven large PSBs with scale and national reach with each\namalgamated entity having a business of over Rupees Eight lakh crore. The Mega\nconsolidation would help create banks with scale comparable to global banks and\ncapable of competing effectively in India and globally. Greater scale and\nsynergy through consolidation would lead to cost benefits which should enable\nthe PSBs enhance their competitiveness and positively impact the Indian banking\nsystem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the mega consolidation of ten PSBs into four which include the \u2013 Daily Current Affairs Quiz 2020 Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank Amalgamation of Syndicate Bank into Canara Bank Amalgamation of Andhra [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":8678,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[914],"tags":[],"offerexpiration":[],"class_list":["post-8677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-march-2020"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/8677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=8677"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/8677\/revisions"}],"predecessor-version":[{"id":8679,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/8677\/revisions\/8679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/8678"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=8677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=8677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=8677"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=8677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}