{"id":4948,"date":"2019-04-30T10:03:38","date_gmt":"2019-04-30T10:03:38","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=4948"},"modified":"2019-04-30T10:05:02","modified_gmt":"2019-04-30T10:05:02","slug":"punjab-national-bank-union-bank-bank-of-india-to-decide-on-a-merger-report","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/punjab-national-bank-union-bank-bank-of-india-to-decide-on-a-merger-report\/","title":{"rendered":"Punjab National Bank, Union Bank, Bank of India to decide on a merger: Report"},"content":{"rendered":"<p style=\"text-align: justify;\">Some public sector banks could soon receive an invitation from the government to discuss another round of mergers in the sector, a Finance Ministry official told\u00a0<em>The Economic Times<\/em>. It is speculated to include\u00a0Punjab National Bank\u00a0(PNB),\u00a0Union Bank of India(UBI) and\u00a0Bank of India\u00a0(BoI).<\/p>\n<p style=\"text-align: justify;\">They wouldn&#8217;t like to wait for too long. If the banks are not able to\u00a0provide options, then the alternate mechanism (AM) group can give suggestions, said the official to a newspaper. He hinted there could be a merger in the second or third quarter of the current fiscal.<\/p>\n<p style=\"text-align: justify;\">The merger process of\u00a0Bank of Baroda, Vijaya Bank and Dena Bank had started in October last year. On April 1, Vijaya Bank and Dena Bank were merged into Bank of Baroda to\u00a0form the third-largest bank in the country.<\/p>\n<div class=\"hide-moblie mid-arti-ad\" style=\"text-align: justify;\">\n<div id=\"Moneycontrol_Mobile_WAP\/MC_WAP_News\/MC_WAP_News_Internal_OutStream\">However, the official said the second merger does not have to involve three parties. They will be looking at various combinations. It has to be organic, he added. They would like some of these large banks to further consolidate their balance sheets in the first two quarters, said the official in a newspaper.<\/div>\n<\/div>\n<div id=\"playstream_out\" class=\"playstream_out\" style=\"text-align: justify;\">\n<div class=\"layer\">\n<div class=\"playstream_advertisement\">\n<p>This report couldn\u2019t be independently verified. On the flip side, some government officials do not believe now is the right time for another merger as BoI has just emerged from the Reserve Bank of India&#8217;s (RBI) prompt corrective action (PCA) framework.\u00a0The PCA is a set of guidelines set by the RBI for banks that have weak financial metrics.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p style=\"text-align: justify;\">The other two, PNB and UBI, are also in recovery stages, the report quoted one government official as saying.<\/p>\n<p style=\"text-align: justify;\">Apart from BoI,\u00a0Oriental Bank of Commerce\u00a0and\u00a0Bank of Maharashtra\u00a0had been pulled out of the PCA framework in February.<\/p>\n<p style=\"text-align: justify;\">Mergers are not the solution to every problem in the banking sector and the government should think of new alternatives other than creating too-big-to-fail structures,\u00a0a senior executive at a public sector bank told the newspaper.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some public sector banks could soon receive an invitation from the government to discuss another round of mergers in the sector, a Finance Ministry official told\u00a0The Economic Times. It is speculated to include\u00a0Punjab National Bank\u00a0(PNB),\u00a0Union Bank of India(UBI) and\u00a0Bank of India\u00a0(BoI). They wouldn&#8217;t like to wait for too long. If the banks are not able [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[3317,431,3796],"class_list":["post-4948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-bank-of-india","tag-punjab-national-bank","tag-union-bank"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Punjab National Bank, Union Bank, Bank of India to decide on a merger: Report - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/punjab-national-bank-union-bank-bank-of-india-to-decide-on-a-merger-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab National Bank, Union Bank, Bank of India to decide on a merger: Report - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"Some public sector banks could soon receive an invitation from the government to discuss another round of mergers in the sector, a Finance Ministry official told\u00a0The Economic Times. 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