4 State-Run Banks In Place Of 10 From Today As Mega Merger Takes Effect

As the merger scheme takes effect, the four banks that will assume the operations of six others in addition to their own are: Punjab National Bank, Canara Bank, Union Bank and Indian Bank.  The branches of the six lenders will operate as part of the four anchor banks, according to the RBI. In turn, customers and depositors of the merged banks will be treated as customers of the four banks. The merger comes into force as the count...