Bank Employees News: Merger of Banks

Showing posts with label Merger of Banks. Show all posts

Thursday, 26 November 2020

Reserve Bank of India 19:49

The Lakshmi Vilas Bank Ltd Branches to Operate as DBS Bank India Ltd Branches From November 27,2020. -RBI

The Lakshmi Vilas Bank Ltd Branches to Operate as DBS Bank India Ltd Branches From November 27,2020. -RBI

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Wednesday, 9 September 2020

Merger of Banks 07:11

Problems Faced by the Employees and Officers - Merger of Bank of Rajasthan and ICICI Bank

Problems Faced by the Employees and Officers - Merger of Bank of Rajasthan and ICICI Bank

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Saturday, 11 July 2020

Merger of Banks 08:40

An Appeal to Halt the Articulation of Ideas to Stimulate the Views on Privatisation of three Public Sector Banks

An Appeal to Halt the Articulation of Ideas to Stimulate the Views on Privatisation of three Public Sector Banks

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Thursday, 2 April 2020

Punjab National bank 17:02

Merger of Banks

Merger of Banks

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Thursday, 19 March 2020

Merger of Banks 09:30

CORONAVIRUS THREAT -REVIEW OF PROPOSED BANK MERGERS

CORONAVIRUS THREAT -REVIEW OF PROPOSED BANK MERGERS

Circular No :44

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Friday, 6 March 2020

Merger of Banks 08:33

Protest Against Merger of Public Sector Banks

Protest Against Merger of Public Sector Banks

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Friday, 14 February 2020

public sector banks 09:31

AIBOC gives clarion call of Massive Agitation Programme on Merger/Amalgamation of PSBs

AIBOC gives clarion call of Massive Agitation Programme on Merger/Amalgamation of PSBs

Source:AISBOF

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Sunday, 15 December 2019

Merger of Banks 08:03

Dharna Before Parliament Against Merger of Banks -A Grand success

Dharna Before Parliament Against Merger of Banks -A Grand success

Source:AIPNBOA

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Wednesday, 11 December 2019

public sector banks 08:34

General Council Meeting Held on 7.12.2019 and 8.12.2019

General Council Meeting Held on 7.12.2019 and 8.12.2019

Source:BEFI

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Thursday, 5 December 2019

UFBU 08:36

Dharna Before Parliament on 10.12.2019

Dharna Before Parliament on 10.12.2019

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Sunday, 29 September 2019

Merger of Banks 09:26

Formation of a Committee of All Stake Holders on Proposed Bank Mergers

Formation of a Committee of All Stake Holders on Proposed Bank Mergers

Circular no:93

Source:AISBOF

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Thursday, 5 September 2019

Merger of Banks 08:01

Large-Scale Merger of Public Sector Banks

Large-Scale Merger of Public Sector Banks

Source:BEFI

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Saturday, 31 August 2019

Merger of Banks 07:58

Amalgamation of National Banks

Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman's Presentation on amalgamation of National Banks

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Wednesday, 8 May 2019

Union Bank of India 07:55

Government may soon invite Punjab National Bank, Union Bank, Bank of India and other Public Sector Banks to discuss merger plan

Government may soon invite Punjab National Bank, Union Bank, Bank of India and other Public Sector Banks to discuss merger plan

With the three-way merger of Bank of Baroda (BOB), Vijaya Bank and Dena Bank coming into effect earlier this month, the Centre seems ready to take another step towards fewer public sector banks. Significantly, such a move is not dependent on the outcome of the general elections since the Congress Party is sold on the Modi government's plan for merging public sector banks (PSBs). Its election manifesto speaks of a maximum of eight state-run lenders with a national presence.

"The government is soon likely to invite select lenders for discussion on a second round of PSB merger," a finance ministry official told The Economic Times, adding that the banks to be called may include Punjab National Bank (PNB), Union Bank of India and Bank of India (BOI). According to the source, some merger activity is on the cards around second or third quarter of the current fiscal year, and if the banks are not able to give options then the alternate mechanism (AM) group can make suggestions.

Moreover, for round two the Centre is not fixated on a tripartite merger along the lines of the BOB-Dena Bank-Vijaya Bank merger that created the country's third-largest lender and reduced the PSB count to 18. This merger was the first step in the consolidation of the public sector banking industry as recommended by the Narasimham Committee in 1991. "We will be looking at various combinations. It has to be organic, besides we will like some of these large banks to further consolidate their balance sheets in the first two quarters," the Finance Ministry official added.

The buzz last month suggested a merger between PNB, Syndicate Bank and Indian Overseas Bank was being weighed and before that, in February, speculation was rife about a possible PNB-Punjab & Sind Bank-Oriental Bank of Commerce merger. Clearly, any possible merger on the cards is likely to be centred around PNB, the country's second largest lender. The bank's managing director and chief executive Sunil Mehta told the daily last week that PNB has now made a turnaround and can consider offers for acquiring other lenders.

But the big question is whether it is an opportune time to step up bank amalgamation. Senior BOB officials previously told PTI that the test case merger will take two years for completion. So there's no dearth of industry watchers who say that it would be prudent to wait for the stabilisation of the BOB-Dena Bank-Vijaya Bank merger before moving ahead.

Furthermore, the health of the PSBs being considered for round two also needs to be considered. The RBI took Bank of India out from its Prompt Corrective Action (PCA) framework just three months ago while Union Bank of India and PNB are also reportedly in early recovery stage.

Source:AIPNBSF

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Tuesday, 16 April 2019

XIth Bipartite 07:43

Office Bearers' Meeting -BEFI

Office Bearers' Meeting -BEFI

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Thursday, 11 April 2019

Reserve Bank of India 07:14

Merger of Lakshmi Vilas Bank and India Bulls Housing Finance Limited

Merger of Lakshmi Vilas Bank and India Bulls Housing Finance Limited

Source:RBI

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Saturday, 6 April 2019

Punjab National bank 08:01

Bank of Baroda, Dena Bank and Vijaya Bank to be injected with Rs. 5000 crore

Bank of Baroda, Dena Bank and Vijaya Bank to be injected with Rs. 5000 crore

Bank of Baroda, Dena Bank and Vijaya Bank to be injected with Rs. 5000 crore

The Bank of Baroda may get Rs 5,000 capital infusion from the Finance Ministry ahead of its united operations as a merged entity along with the Vijaya Bank and Dena Bank from April 1, 2019. In February, the government approved Rs 48,239-crore recap bonds in 12 PSBs.

The latest recap bonds broadly fall into four categories:

a) equipping better-performing PCA (prompt corrective action) banks to be above regulatory PCA thresholds to help them come out of the framework (Allahabad Bank, Corporation Bank, who have already come out of the PCA);

b) Non-PCA banks that are close to the red line to ensure they don't fall into PCA (Punjab National Bank, Union Bank, Syndicate Bank and Andhra Bank);

c) PCA banks that have exited PCA to remain above PCA triggers (Bank of India, Bank of Maharashtra);

d) And other PCA banks that need to meet minimum regulatory capital norms (Central Bank, United Bank, UCO Bank and Indian Overseas Bank).

The government has so far pumped Rs 1.90 lakh crore into PSBs since it announced the recapitalisation plan in October 2017. The Finance Ministry has kept around Rs 5,000 crore as buffer for any last-minute contingency, for possible infusion into the merged entity of Bank of Baroda, Dena Bank and Vijaya Bank. The merger will create India's third largest bank with a total business of over Rs 14.82 lakh crore. When the three banks are merged, the combined entity's capital adequacy ratio will be at 12.25 per cent, with tier-1 capital at 9.32 per cent and net non-performing assets at 5.71 per cent. The merged entity will have nearly 9,500 branches.

Sources said the capital may be infused as Dena Bank is a weak PCA bank and it should not drag down the the overall balancesheet of the Vijaya Bank and Bank of Baroda on regulatory capital breach when they start operations from April 1 and also for lendings. MD and CEO of Bank of Baroda P.S. Jaykumar may head the merged entity, the sources added.

The government in September 2018 announced the merger of state-owned Vijaya Bank and Dena Bank with larger Public Sector Bank (PSB) Bank of Baroda to create the third largest lender after SBI and ICICI Bank in the country. The merger plan got the Union Cabinet's nod in January. It was part of the government's strategy to promote consolidation in the sector marred by loads of non-performing assets (NPAs). However, this is the first three-way merger in the public sector banking space.

According to UFBU the merger of the Bank of Baroda, Dena Bank and Vijaya Bank is "unwarranted" and will surely result in closure of branches.

Source:AIPNBSF

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