Question

Which banks were merged into Punjab National Bank in the 2019-2020 consolidation?

• A. Syndicate Bank and Allahabad Bank
• B. Andhra Bank and Vijaya Bank
• C. Oriental Bank of Commerce and United Bank of India
• D. Canara Bank and Indian Bank

Answer 1

Answer:

C. Oriental Bank of Commerce and United Bank of India

Bank Merger 2019 & 2020

• Finance Minister Nirmala Sitharaman announced bank mergers in August 2019 and April 2020

• Punjab National Bank became the second largest public sector bank in India after the bank merger

• Oriental Bank of Commerce merged with United Bank of India - Punjab National Bank

• Syndicate Bank – Merged with Canara Bank

• Allahabad Bank – Merged with Indian Bank

• Andhra Bank merged with Co-operation Bank - Union Bank of India

• Vijaya Bank, Dena Bank – merged with Bank of Baroda