Bank Merger Current Affairs, GK & News

RBI’s State of the Economy Report – Update (April, 2021)

April 27, 2021

The Reserve Bank of India recently released the State of Economy Report for the month of April 2021. Key Findings of the Report The resurgence of COVID-19 might bring back inflationary pressures. Also, the restrictions and disruptions in supply chains might add up to the inflationary pressures. Under the G-Sec Acquisition Programme, RBI aims to ..

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Govt to work with RBI for Privatisation of Banks

February 8, 2021

Recently the Union Finance Minister, Nirmala Sitharaman, while addressing the business leaders, chartered accountants and tax professionals in Mumbai stated that the central government will work with the Reserve Bank of India (RBI) to execute the plan of the privatization of the banks. Highlights The minister further said, the Centre have not made plan to ..

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Cabinet Approval: Mega Consolidation of Public Sector Banks

March 5, 2020

On March 4, 2020, the Union Cabinet chaired by Narendra Modi had approved mega consolidation of 10 Public Sector Banks. Highlights The mega merger is to come into effect from April 1, 2020. It includes amalgamation of United Bank of India and Oriental Bank of India into Punjab National Bank. Also, amalgamation of Syndicate Bank ..

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 Induslnd Bank- BFIL merger to be effective from July

June 21, 2019

The merger of Induslnd Bank and Bharat Financial Inclusion Ltd (BFIL) will be effective from 4 July 2019. This decision to file National Company Law Tribunal (NCLT) Order on 4 July, by lender IndusInd , BFIL and IFIL with Registrar of Companies was taken by the boards of IndusInd and BFIL. Key Highlights Background: In ..

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