The merged entity will be operational from April 2020.
Yes Bank's growth plans will remain firmly on track.
Allaying apprehensions of stakeholders, United Bank of India MD and CEO Ashok Kumar Pradhan said there will be "no retrenchment" of human resource of the three banks.
It can be noted that the RBI and the government have been taking a slew of measures to spur economic growth, which has dipped to a six-year low by taking slew of measures.
SBI Deputy MD S K Varma said credit demand from the large corporates was "sluggish" so far in this fiscal but a revival in near future with good monsoon is expected.
Failure to resolve complaint within the stipulated time would make these lenders liable to pay customers Rs 100 for every delayed day.
Agility, innovation, efficiency, predictability and customer satisfaction are all markers of a successful new-age digital organisation. And they all depend o...
Since August 30 there have been strong protests from common people, including bank officers and employees, the statement said.
The critical issue is to ensure that the process of transition following the merger should be in the most non- disruptive manner, Shatikanta Das said.
Banks will have to take more haircuts while resolving the stressed loans extended to NBFCs, Das has said.
The new products will be available to borrowers from October 1 onwards.
Merger without a reduction in government interference is unlikely to bring professionalism and efficiency in public sector banking.
Additionally, the ministry will discuss how banks can help customers in tracking online loan applications for retail, MSME (micro, small and medium enterprise), housing, and vehicle loans, among others.
RBI had earlier this month mandated all banks to link their personal or retail loans to floating rate linked to an external benchmark.
The decision has come in line with the Reserve Bank of India guidelines of September 4, 2019, Allahabad Bank said in a regulatory filing.
The board after deliberations conveyed its in-principle approval for the amalgamation of Allahabad Bank with Indian Bank.
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