Points to Remember:
- SS Mallikarjuna Rao has been appointed as Punjab National Bank’s CEO and MD for up to September 18, 2021.
- Rao has previously served as the MD of Allahabad Bank and Executive Director of Syndicate Bank.
- He will replace Sunil Mehta in PNB, which is currently under a process of three-way amalgamation with Oriental Bank of Commerce (OBC) and United Bank of India
- The government announced the merger of United Bank of India and Oriental Bank of Commerce with Punjab National Bank in August.
About Punjab National Bank:
- Founded: 19 May 1894
- Founder: Dyal Singh Majithia, Lala Lajpat Rai
- Headquarters: New Delhi, India
Important Possible questions based on above News:
- Who has been appointed as Punjab National Bank’s CEO and MD for up to September 18, 2021? SS Mallikarjuna Rao
- Which three banks will be merged into a sole entity to form the second-largest public sector bank of India? United Bank, PNB & OBC