 "banks, bank merger, PSU")
A month after the country’s biggest bank amalgamation exercise, integration seems to have taken place only on paper as the nationwide lockdown to contain the spread of Covid-19 has proved a big hurdle.
On April 1, Punjab National Bank (PNB) took over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country’s second-largest lender after State Bank of India (SBI) in terms of business. Canara Bank subsumed Syndicate Bank; Andhra Bank and Corporation Bank merged with Union Bank of India; and Allahabad Bank became a part of Indian Bank.
During the amalgamation, the two biggest
