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PSB merger effect: State Bank of India, PNB dip up to 6%, Indian Bank up 8%

The consolidation, that will merge 10 PSBs into four, comes at a time when the country and financial system is grappling with adverse fallout of the Covid-19 pandemic.

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Buzzing stocks | Markets | PSU Bank index

SI Reporter  |  New Delhi 



Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion
Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion

Shares of public sector banks, including State Bank of India (SBI) and Punjab National Bank (PNB), were trading mixed on the National Stock Exchange (NSE) on Wednesday as the government's proposed PSB merger scheme came into effect from today. The consolidation, that will merge 10 PSBs into four, comes at a time when the country and financial system is grappling with adverse fallout of the Covid-19 pandemic.

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First Published: Wed, April 01 2020. 09:47 IST

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