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FM Nirmala Sitharaman's address on the economy, announces four massive bank mergers | The Big Story
Posted
August 30, 2019
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24:18Now PlayingOn Big Story, Finance Minister, Nirmala Sitharaman while addressing the media said that Measures have been taken for the credit growth in the economy. 3.38 lakh shell companies struck off. Specialized agencies have been set up who are monitoring every loan which is over Rs 250 crores. 8 PSU banks have launched REPO linked loan schemes. Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank.
She announced four massive bank mergers.
1) Punjab National Bank + Oriental Bank of Commerce + United Bank
2) Canara bank + Syndicate bank
3) Union bank + Andhra bank + Corporation bank
4) Indian bank + Allahabad bank
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