Quick Answer: Is OBC Bank Merged With PNB?

How many bank merged with PNB?

MUMBAI : Public sector lenders Punjab National Bank (PNB) and Union Bank of India on Thursday said their boards have approved the merger ratios for amalgamation with four other banks as part of the government’s exercise to merge 10 banks into four..

Which three banks merged recently?

The government on Friday announced the four major bank mergers, by consolidating Punjab National Bank, Oriental Bank of Commerce and United Bank to create India’s second largest lender; merging Canara Bank with Syndicate Bank to create the fourth largest PSU lender, bringing together Union Bank of India, Andhra Bank …

Which bank is OBC?

Oriental Bank of CommerceTypePublic sector undertakingHeadquartersGurgaon, Haryana, IndiaArea servedIndiaKey peopleCG.S. S. Mallikarjuna Rao (MD & CEO)ProductsInvestment banking Consumer banking Commercial banking Retail banking Private banking Asset management Pensions Mortgages Credit cards16 more rows

How many banks merged in 2020?

5) Customers, including depositors of merging lenders will be treated as customers of the banks in which these banks have been amalgamated with effect from 1 April 2020. 6) Post the merger, there will be 12 Public Sector Banks, six merged banks and six independent public sector banks.

Which type of bank is OBC?

Oriental Bank of Commerce (OBC), a public sector bank established in the year 1943 and headquartered in Gurgaon. The bank provides various financial and banking services to its customers such as deposit accounts, loans, debit cards, credit cards, insurance, ATMs, internet banking, mobile banking and many more.

Which is the No 1 bank in India?

HDFC Bank: HDFC Bank has been ranked India’s No. 1 Bank in forbes’ world’s Best bank report. It has 88,253 permanent employees as of 31 March 2018 and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is India’s largest private sector lender by assets.

Is OBC bank private or government?

Oriental Bank of Commerce (OBC) is a Government of India undertaking that was incorporated in 1943. Back then, its business activities included monetary intermediation of commercial banks, saving banks and discount houses. In the year 1951, bank’s registered office was relocated to Delhi, from Lahore in Pakistan .

What is new name of OBC bank?

Both, OBC and UBI have been merged into Punjab National Bank (PNB) with effect from 1 April 2020.

Which bank is best SBI or PNB?

Which is a better bank for Personal Loan – PNB or SBI? SBI offers lower Personal Loan EMI at 1832 on a Personal Loan for 72 Months as compared to PNB with a minimum EMI of 2073 for 60 Months. Average customer ratings for SBI is currently at 3.6/5.0 which makes it a good choice for taking a Personal Loan.

Is PNB good bank?

Punjab National Bank is an Indian financial services company based in New Delhi, India about 5,000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the Bankers’ Almanac.

Which bank is better Icici or PNB?

ICICI Bank has an average customer ratings of 4.1, while PNB has an average customer rating of 3.9, based on which it is clear that ICICI Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.

Which PNB app is best?

What are the different PNB Mobile Banking Apps?PNB Mobile Banking AppsPrimary FeaturesPNB ONEOpen savings / current account, fixed deposit online Transfer funds using IMPS, RTGS and NEFTPNB mPassbookCheck and download mini / detailed bank statement directly from the app Works on M-PIN based login5 more rows•Jun 11, 2020

Which banks are merged with PNB?

Punjab National Bank (PNB), Oriental Bank of Commerce, and United Bank of India will combine to form the nation’s second-largest lender. Canara Bank will take over Syndicate Bank; Union Bank of India is planned to be amalgamated with Andhra Bank and Corporation Bank; and Indian Bank will subsume Allahabad Bank.

Which bank is safest in India?

List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.

Is PNB going to merge?

The amalgamation of Punjab National Bank, United Bank of India and Oriental Bank of Commerce came into effect from April 1, 2020. The merger will create the second largest nationalized bank of the country – both in terms of business and branch network.