Reserve Bank of India is announced to combine a few Banks with each and develop the strong customer service Support and maintain their relationship with their customers.
The merger would be effective from April 1, 2020.
…
According to the plan:
- Punjab National Bank will take over Oriental Bank of Commerce and United Bank.
- Canara Bank will take over Syndicate Bank.
- Union Bank of India will take over Andhra Bankand Corporation Bank.
- Indian Bank will be merged with Allahabad Bank.
| Sl. No | Acquirer Banks | Banks to be Merged |
|---|---|---|
| 1. | Punjab National Bank(PNB) | Oriental Bank of Commerce and United Bank of India |
| 2. | Indian Bank | Allahabad Bank |
| 3. | Canara Bank | Syndicate Bank |
| 4. | Union Bank of India | Andhra Bank and Corporation Bank |
- MICR CODE OF ALL MERGER BANKS
1. PUNJAB NATIONAL BANK (PNB) & ORIENTAL BANK OF COMMERCE AND UNITED BANK OF INDIA
2. ALLAHABAD BANK & INDIAN BANK
3 . CANARA BANK & SYNDICATE BANK
4. UNION BANK OF INDIA & ANDHRA BANK AND CORPORATION BANK