Oriental Bank Of Commerce
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Merger of 10 PSU banks comes into effect from today; 10 things you need to know about implications of govt's move
Trendingdesk •10 PSU banks are being amalgamated with a larger bank, referred to as the anchor bank
Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless
Fp Staff •Experts said bank merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks are exuding confidence.
Despite coronavirus lockdown, merger of 10 PSU banks to come into effect from 1 April as planned, says RBI
Trendingdesk •The RBI has revealed that the scheme of merging 10 PSU banks into four bigger lenders is on schedule despite the country-wide coronavirus lockdown and will come into force from 1 April, 2020
10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline
•The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from 1 April, 2020
Oriental Bank of Commerce Q3 net profit jumps 39.11% to Rs 201.66 cr; gross NPAs decline to 12.64%
•State-owned Oriental Bank of Commerce (OBC) on Thursday reported a 39.11 percent jump in net profit at Rs 201.66 crore for the quarter ended December 2019, mainly due to reduction in bad loans
NCLAT stays NCLT directive to make Ministry of Corporate Affairs party to all insolvency cases
•The appellate tribunal's direction came over a petition filed by the government through the Ministry of Corporate Affairs (MCA) challenging the NCLT order.
PSU bank consolidation: PNB, Union Bank get in-principle nod from govt for proposed merger
•Punjab National Bank and Union Bank of India on Monday said they have received in-principal approval from the government for their amalgamation with other public sector banks
Mega merger of PSBs: Employees unions of state-run banks to stage sit-in before Parliament on 10 December
•In August this year, the government announced its plan to merge 10 PSBs into four to create fewer and stronger global-sized banks.
PNB, UBI, OBC merger: Outside expert may be roped in to decide logo of new merged entity
•The proposed merger, expected to be effective from 1 April next year, will lead to the creation of the country's second-largest lender after State Bank of India, with a total business volume of about Rs 18 lakh crore
Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
•The complete harmonisation among the three entities would take another 12 to 14 months after the merger