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12 State-Run Banks Instead Of 27 In Government's Mega Mergers: 10 Things To Know
PNB to be country's second largest public sector bank after merger Consolidation plan to result in 12 PSU banks in system, instead of 27 Government wants a strong financial system, says Finance Minister
31 Aug 2019, 07:04 AM IST 
Bank merger India: The government said it wants a strong financial system to achieve $5 trillion mark.
The Canara Bank will join Syndicate Bank; Union Bank of India, Andhra Bank and Corporation Bank will merge, and Indian Bank will merge with Allahabad Bank. Together, they will hold business worth Rs 55.8 lakh crore.
After the mega PSU bank consolidation, there will be 12 public sector banks in the system instead of 27, the Finance Minister said.
Announcing steps to empower the public sector banks, the Finance Minister said a boar...
