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How Indian Bank-Allahabad Bank amalgamation proved an unlikely success

The merger was complicated by the fact that the government had not allowed post-merger lay-offs for any of the banks under this process

Indian Bank | Allahabad Bank | PSU bank merger

T E Narasimhan  |  Chennai 

Indian Bank
Though Allahabad Bank was slightly smaller in terms of business, it had many more people — 3,169 branches and 23,210 staffers, compared to Indian Bank’s 2,834 branches and 19,604 employees

In 2019, the government announced the merger of 10 of its into four. These included Oriental Bank of Commerce and United Bank of India with Punjab National Bank (PNB), Andhra Bank and Corporation Bank with Union Bank of India, Syndicate Bank with Canara Bank, and with the .



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First Published: Wed, March 17 2021. 06:10 IST