Enthused by the success of Indias largest bank State Bank of Indias merger, the government is reportedly mulling another mega bank merger. As per a report, the government is planning to merge Bank of four banks, they banks had reported a combined loss of Rs 21, 646.38 crore in the year ended 31 March 2018. Name these four Banks?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Enthused by the success of India’s largest bank State Bank of India’s merger, the government is reportedly mulling another mega bank merger. As per a report, the government is planning to merge Bank of four banks, they banks had reported a combined loss of Rs 21, 646.38 crore in the year ended 31 March 2018. Name these four Banks?

A	Bank of Baroda, Bank of India, Oriental Bank of Commerce and Indian Bank
B	Punjab National Bank, IDBI Bank, Indian Overseas Bank and Central Bank
C	Union Bank of India, IDBI Bank, Oriental Bank of Commerce and United Bank of India
D	Bank of Baroda, IDBI Bank, Oriental Bank of Commerce and Central Bank of India

Explanation:

Detailed explanation-1: -MUMBAI: In the biggest merger in Indian corporate history, the boards of HDFC and HDFC Bank on Monday cleared a $40 billion amalgamation of the parent housing finance company with its banking arm.

Detailed explanation-2: -Punjab National Bank, Oriental Bank of Commerce, and the United Bank of India will combine to form the nation’s second-largest lender. Canara Bank and Syndicate Bank.

Detailed explanation-3: -Which are associate banks that were merged with the State Bank of India? The associate banks that merged with State Bank of India were State Bank of Travancore, State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Patiala and Bharatiya Mahila Bank.

Detailed explanation-4: -Since both assets and liabilities of all the banks in question are merged, acquisitions help banks strengthen their balance sheets. It would ultimately help nullify the Non Performing Assets (NPA) of smaller PSU banks in India.

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