Punjab National Bank Merged Entity To Become Operational From April 1

The merger of state-run lenders Punjab National Bank (PNB), United Bank of India (UBI) and Oriental Bank of Commerce (OBC) will come into effect from April 1 next year, a top official said on Saturday. The merged unit, likely to have a new name, will be the second largest bank in the country after State Bank of India (SBI) with a total business volume of Rs 18 lakh crore. "The amalgamation process will take some time and the new enti...