Merger of Public Sector Banks: EurAsian Times

The successful merger of State bank of India with its associate banks  has made way for the other public sector banks to follow the same methodology. Old public sector banks like Bank of Baroda, Punjab national bank, Canara bank and Union bank of India have submitted the proposal to the government for their merger with small public sector banks. This process will help the bank in raising its capital and assets and as a result will be helpful to customers in offering them the higher amount of loans. The merger does not impact the end customer. They will continue to receive the same, in fact, improved services from the bank. No additional KYC documents needs to be submitted and their interest rate on the loans does not get impacted.  Mergers do have an effect on the international level as well as it allows India banks to catch up with the global banks operating in different countries. The process is not a cakewalk and requires changes in the banks working system and in order to monitor smooth transition, close vigilance is required by the top officials.

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