What Is The New Name Of UBI?

What is the new name of United Bank of India?

Punjab National BankUnited Bank of IndiaTypePublic sector undertakingSuccessorPunjab National BankFounded1950FounderNarendra Chandra Dutta J.C Das Indu Bhushan Dutta D.N MukherjeeDefunct1 April 202017 more rows.

What is the new name of Punjab National Bank?

NEW DELHI: Punjab National Bank (PNB) has unveiled a new logo as it merges United Bank of India and OBC with it, with effect from April 1. The new logo will bear distinct signages of all the three public sector lenders.

What is OBC and Ubi?

PNB, Oriental Bank of Commerce (OBC) and United Bank of India (UBI) will be merged to form the second-largest state-run bank in the country, with a business of ₹17.95 trillion (loans plus deposits) and will be at least 1.5 times that of PNB.

What happened to United Bank of India?

Are Oriental Bank of Commerce and United Bank of India getting closed? No. Both these banks are being amalgamated into Punjab National Bank, with the name of the amalgamated bank being Punjab National Bank.

Is PNB and UBI same?

The merger of UBI and OBC into PNB will lead to the creation of the country’s second largest lender after State Bank of India, the official said. … The boards of UBI and OBC will cease to exist from April 1, 2020, the official said.

Who is the owner of PNB?

Government of India85.59%Punjab National Bank/Owners

Which banks merged with PNB?

Punjab National Bank (PNB), Oriental Bank of Commerce, and United Bank of India will combine to form the nation’s second-largest lender. Canara Bank will take over Syndicate Bank; Union Bank of India is planned to be amalgamated with Andhra Bank and Corporation Bank; and Indian Bank will subsume Allahabad Bank.

Is PNB merged with SBI?

India’s annual oil usage falls for first time in 21 years 1) Oriental Bank of Commerce (OBC) and United Bank of India will be merged into Punjab National Bank (PNB). After the merger, these together will form the second-largest public sector bank in the country, after State Bank of India (SBI).

Will PNB close down?

As a part of its consolidation plan, the country’s largest public sector lender Punjab National Bank (PNB) has planned to close down, merge or relocate about 200-300 of its loss-making branches over the next 12 months.

Is OBC a Nationalised bank?

Oriental Bank Of Commerce In the year 1980, the bank was nationalised. Much later in the year 1992 the bank set up its merchant banking division. In the year 1997 two banks namely Punjab Co–operative Bank and Bari Doab Bank were amalgamated in OBC.

Is OBC merged in PNB?

The amalgamation of Punjab National Bank, United Bank of India and Oriental Bank of Commerce has come into effect from April 1, 2020. The merger will create the second largest nationalized bank of the country both in terms of business and branch network.

Is OBC a good bank?

Oriental Bank of Commerce is an India-based bank established in Lahore. … Within a decade the bank turned into one of the most efficient and best performing banks of India. Seventh largest Public Sector Bank in India.

Is PNB good bank?

Punjab National Bank is an Indian financial services company based in New Delhi, India about 5,000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the Bankers’ Almanac.

Is PNB private or govt?

Punjab National Bank is a PSU working under Central Government of India regulated by Reserve Bank of India Act, 1934 and Banking Regulation Act, 1949. Punjab National Bank was registered on 19 May 1894 under the Indian Companies Act, with its office in Anarkali Bazaar, Lahore, in present-day Pakistan.

Which banks are safest in India?

List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.