NextGen PSBs: Indian Bank-Allahabad Bank merger to boost scale of ops

There will be very little overlap in terms of branches or network, since the geography focus has been different, says Indian Bank's Padmaja Chunduru

Finance Minister Nirmala Sitharaman on Friday announced the merger of 10 state-owned banks to form four big banks. One among them was Allahabad Bank’s merger with Chennai-based Indian Bank. Managing director and chief executive officer (MD & CEO) of Indian Bank Padmaja Chunduru speaks to T E Narasimhan on how the merger will benefit the bank and the challenges ahead. Edited excerpts:

What is your view about the merger?

We are very happy. We did not lose our identity and Indian Bank is rightly recognised for its self-driven growth. In this whole merger, Indian Bank is the only medium sized