PNB Likely to Merge OBC, Andhra Bank and Allahabad Bank

In next three month Punjab National Bank (PNB) could initiate the process of merging of two-to-three small state-run banks, that could include Oriental Bank Of Commerce, Andhra Bank and Allahabad Bank. 

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Punjab National Bank was earlier in the headlines in April for a possible merger with Union Bank of India and Bank of India. The Indian government is seeking to consolidate the nation’s debt-burdened state banking sector.

News sources by Moneycontrol, Livemint, BS