MERGING PROCESS:
GOVT published 7 major banks as co-ordinator bank for small banks and to have monthly meetings with these bank. Larger banks will act as a Guide to small bank.It may be a step towards merging of banks:-
SBI , Punjab National Bank, Bank of Baroda, Bank of India, Union Bank of India, Central Bank of India and Canara Bank are the seven coordinating banks.
While SBI is the coordinator for its five associates, Dena Bank and Vijaya Bank are under PNB.
Other groups are IDBI Bank and Uco Bank with BoB; Oriental Bank of Commerce and Andhra Bank with BoI; United Bank of India and Punjab& Sind Bank with Union Bank; Indian Bank, Allahabad Bank and Bank of Maharashtra with Central Bank; Indian Overseas Bank, Syndicate Bank and Corporation Bank with Canara Bank.
GOVT published 7 major banks as co-ordinator bank for small banks and to have monthly meetings with these bank. Larger banks will act as a Guide to small bank.It may be a step towards merging of banks:-
SBI , Punjab National Bank, Bank of Baroda, Bank of India, Union Bank of India, Central Bank of India and Canara Bank are the seven coordinating banks.
While SBI is the coordinator for its five associates, Dena Bank and Vijaya Bank are under PNB.
Other groups are IDBI Bank and Uco Bank with BoB; Oriental Bank of Commerce and Andhra Bank with BoI; United Bank of India and Punjab& Sind Bank with Union Bank; Indian Bank, Allahabad Bank and Bank of Maharashtra with Central Bank; Indian Overseas Bank, Syndicate Bank and Corporation Bank with Canara Bank.
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