Page 2 - Bank Mergers
Lakshmi Vilas customers to get all services; interest rates unchanged: DBS
The amalgamation of Lakshmi Vilas Bank into DBS Bank India came into effect from November 27
 "Lakshmi Vilas customers to get all services; interest rates unchanged: DBS")
Indian Bank to focus on consolidation and profitability, says MD & CEO
The amalgamation of Allahabad Bank into Indian Bank has placed Indian Bank as the seventh-largest bank in India
 "Indian Bank to focus on consolidation and profitability, says MD & CEO")
United Bank of India, OBC slipped into red before merger with PNB
While UBI posted a net loss of around Rs 6,700 crore in the quarter ending March 2020 (Q4FY20), OBC logged a net loss of around Rs 2,700 crore, an executive said, requesting anonymity.
 "United Bank of India, OBC slipped into red before merger with PNB")
Banking to be a 'strategic sector', govt discussing privatising some PSBs
According to the new privatisation policy, announced by FM Sitharaman as part of the 'Atmanirbhar Bharat' package, the government will come up with a list of strategic sectors
 "Banking to be a 'strategic sector', govt discussing privatising some PSBs")
No immediate plans to exit Universal Sompo: Padmaja Chunduru of Indian Bank
In a March 31 Q&A, the lender's MD & CEO dwells on its strengths following the amalgamation with Allahabad Bank
 "No immediate plans to exit Universal Sompo: Padmaja Chunduru of Indian Bank")
Indian Bank allots 520.5 mn shares to Allahabad Bank shareholders
The bank is in the process of filing listing applications with the stock exchanges
 "Indian Bank allots 520.5 mn shares to Allahabad Bank shareholders")
Top headlines: Govt to borrow Rs 4.88-trn, PPF to fetch 7.1%, and more
From Centre allowing 100% rebate on PM-CARES fund, top 22 families losing Rs 22 trillion to vegetable markets coming back to life, Business Standard brings you top headlines of the day
 "Top headlines: Govt to borrow Rs 4.88-trn, PPF to fetch 7.1%, and more")
Bank mergers: Allahabad Bank branches are now Indian Bank branches
Effective April 1, Allahabad Bank will merge with Indian Bank, creating an entity with over 6,000 branches, 4,800 ATMs, 43,000 employees, 120 million customers and business mix of Rs 8 trillion
 "Bank mergers: Allahabad Bank branches are now Indian Bank branches")
RBI changes SLBC convenors over merger of 10 PSBs into 4 from April 1
The government on March 4 notified the amalgamation scheme as part of its consolidation plan to create bigger and stronger banks in the public sector
 "RBI changes SLBC convenors over merger of 10 PSBs into 4 from April 1")
Coronavirus: Pressure mounts on govt to defer PSB merger amid lockdown
Banks working towards merging balance sheets before April 1
 "Coronavirus: Pressure mounts on govt to defer PSB merger amid lockdown")
Share exchange ratio for merger remains unchanged, says Indian Bank
The Board of Directors on March 5 approved fair equity share exchange ratio at 115 equity shares of Rs 10 each of Indian Bank for every 1000 shares of Rs 10 each of Allahabad Bank
 "Share exchange ratio for merger remains unchanged, says Indian Bank")
FM Nirmala Sitharaman to meet bank CEOs to review merger preparedness
The meeting would deal also on readiness of anchor banks to minimise disruption to customers and ensuring credit flow to productive sectors of the economy
 "FM Nirmala Sitharaman to meet bank CEOs to review merger preparedness")
Merger of 10 PSBs into 4: Gains may not accrue soon for investors
Experts say concern over growth, credit cost, and asset quality would restrict valuation improvement despite sharp correction in share prices
 "Merger of 10 PSBs into 4: Gains may not accrue soon for investors")
PSB merger: Indian Bank announces equity exchange ratio with Allahabad Bank
The government had in August last year announced plans to merge 10 public sector banks (PSBs) into four
 "PSB merger: Indian Bank announces equity exchange ratio with Allahabad Bank")
Withdrawal limit to 'govt bailout': 10 points about Yes Bank's troubles
Yes Bank has been placed under moratorium and the government is reportedly planning a rescue plan involving a capital injection by a consortium led by State Bank of India.
 "Withdrawal limit to 'govt bailout': 10 points about Yes Bank's troubles")
Taxpayers will be 'big casualty' if govt bails out Yes Bank: Macquarie
Over the past few months, YES Bank has struggled to raise capital - nearly $2 billion - it desperately needs to stay above regulatory requirements
 "Taxpayers will be 'big casualty' if govt bails out Yes Bank: Macquarie")
End of uncertainty
More than consolidation, PSBs need real reforms
Merger of 10 public sector banks into 4 to come into effect from Apr 1: FM
The Union Cabinet, she said, has given a go-ahead for the merger proposal and the government has been in regular touch with these banks
Post merger, Allahabad and Indian Bank to have 10,000 branches in 2 years
At the end of December 2019, the total business of Allahabad Bank was close to Rs 3.94 trillion, while that of Indian Bank was close to Rs 4.5 trillion
 "Post merger, Allahabad and Indian Bank to have 10,000 branches in 2 years")
Merger of public sector banks on schedule, says Nirmala Sitharaman
But in a meeting with the brass, Sitharaman didn't discuss the merger process,said a banker
 "Merger of public sector banks on schedule, says Nirmala Sitharaman")
