 From today, 1 April, Ten Public Sector banks will be merged into 4 banks.
This is the largest merger in banking history.
In August 2019, the government had announced that the 10 banks will be merged into four. 
inorder to make them financially stronger.
Many thought that due to the COVID-19 pandemic the government will postpone the bank merger.
However the governement went ahead with the merger with effect from 1st April 2020.
Let me tell you all you need to know about the bank merger.
1. Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank.
The State Bank of India is the largest bank in India. After the merger of PNB, it will form the second-largest bank in the country.
2. Syndicate Bank will be merged into Canara Bank
3. Allahabad Bank will be merged into Indian Bank.
4. Andhra Bank and Corporation Bank will be merged into Union Bank.
5. Customers and depositors of merging banks such as the Oriental Bank of Commerce, Syndicate Bank, etc
will be treated as customers of the banks in which these banks have been merged such as the Union Bank. This will be from 1st April 2020.
6. After the merger, there will be 12 public sector banks - six merged banks and six independent banks.
