United Bank, PNB, OBC’s merged entity to be functional from April 1

1 अप्रैल से परिचालन में आएंगी यूनाइटेड बैंक, पीएनबी व ओबीसी की विलय की गई इकाइयां

Points to Remember:

  • The amalgamated entity of United Bank of India, Punjab National Bank and Oriental Bank of Commerce will come into effect from April 1, 2020, UBI’s MD & CEO Ashok Kumar Pradhan said.
  • The merged entity will be the second-largest public sector bank in the country after the State Bank of India.
  • During the interim period, the three will continue to function independently.
  • The government has already announced a capital infusion of 16,000 crore into PNB and 1,600 crore into UBI.
  • “The merged entity will be adequately capitalised and comply with basel requirements for the next three years

About United Bank of India:

  • Founded: 1950
  • Founder: Narendra Chandra Dutta
  • Headquarters: Kolkata, India
  • MD & CEO: Ashok Kumar Pradhan

About Punjab National Bank:

  • Founded: 19 May 1894
  • Founder: Dyal Singh Majithia, Lala Lajpat Rai
  • Headquarters: New Delhi, India
  • Chairman & MD: Sunil Mehta

About Oriental Bank of Commerce:

  • Founded: 19 February 1943
  • Founder: Rai Bahadur Sohan Lal
  • Headquarters: Gurugram, India
  • MD & CEO: Mukesh Kumar Jain
Important Possible questions based on above News:
  1. Which three banks will be merged into a sole entity to form the second-largest public sector bank of India? United Bank, PNB & OBC
  2. Who is the current MD & CEO of United Bank of India? Ashok Kumar Pradhan
  3. Who is the current Chairman & MD of Punjab National Bank? Sunil Mehta
  4. Who is the current MD & CEO of Oriental Bank of Commerce? Mukesh Kumar Jain

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