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Name the Public Sector Bank (PSB) which is going to be Amalgamated with Indian Bank in effect from April 1, 2020.
  • a)
    Indian Overseas Bank
  • b)
    Canara Bank
  • c)
    Andhra Bank
  • d)
    Allahabad Bank
  • e)
    Corporation Bank
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Name the Public Sector Bank (PSB) which is going to be Amalgamated wit...
The Union Cabinet has approved the mega consolidation of following ten PSBs into four which would be effective from 1.4.2020.

The above amalgamation will be in addition to State Bank of India (SBI), Bank of Baroda (BoB), and Bank of India (BoI) comprises of 7 Big PSBs. There were 27 PSBs in 2017 and now there would be 12 (7 big PSB + 5 Small PSB). The five smaller PSBs are Central Bank of India (CBI), Indian Overseas Bank (IOB), UCO Bank, Bank of Maharashtra (BOM), and Punjab and Sind Bank.
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Name the Public Sector Bank (PSB) which is going to be Amalgamated with Indian Bank in effect from April 1, 2020.a)Indian Overseas Bankb)Canara Bankc)Andhra Bankd)Allahabad Banke)Corporation BankCorrect answer is option 'D'. Can you explain this answer?
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