New delhi date. 10 February 2020, Monday
By the end of April, the central government has begun to take steps to merge the country's 10 government banks.
Punjab National Bank, Oriental Bank of Commerce and United Bank of Commerce will also be merged.
The government source said that the ground work for the merger of the banks has been completed and that by April, ten government banks will be merged.
Ashok Kumar, MD, United Bank of India, told the minister that it seems likely that this week the government will formally announce the merger.
The bank's valuation will be based on the operating data and results of the first six months of the current financial year.
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