Question

Which of the following was not part of the 2019–20 major public sector bank consolidation announced by the Government of India?

A Punjab National Bank, Oriental Bank of Commerce, and United Bank of India Correct Answer Incorrect Answer
B Canara Bank and Syndicate Bank Correct Answer Incorrect Answer
C Union Bank of India, Andhra Bank, and Corporation Bank Correct Answer Incorrect Answer
D Indian Bank and Allahabad Bank Correct Answer Incorrect Answer
E Bank of India and Central Bank of India Correct Answer Incorrect Answer

Solution

In the 2019–20 mega PSB merger plan, 10 public sector banks were consolidated into 4 large entities: • PNB + OBC + United Bank → Punjab National Bank • Canara + Syndicate → Canara Bank • Union + Andhra + Corporation → Union Bank • Indian + Allahabad → Indian Bank. Bank of India and Central Bank of India were not merged and continue as independent PSBs.

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