30 committees monitoring the Canara-Syndicate Bank merger process

After the merger, the combined entity will also see a higher number of chief general managers

Around 30 committees are currently looking into various aspects of integration, including human resource (HR) and technology, as part of the merger process between Canara Bank and Syndicate Bank. As part of this process, these banks have also appointed legal and financial consultants to conduct due diligence on valuation and swap ratio.

“The committees formed by both banks are looking into different areas. At the same time, various processes relating to HR and customer services are being studied, so that these can be harmonised,” said Mrutyunjay Mahapatra, managing director and chief executive officer at Syndicate Bank. 

He added, “We are also completing