India News: MUMBAI: Punjab National Bank reported a net profit of Rs 586 crore for quarter ended March 2021 as compared to a loss of Rs 697 crore in the correspon.
Despite COVID-19, the bank's profit surged over five times to Rs 2,022 crore during the financial year ended March 2021, against Rs 363.34 crore during 2019-20
India Business News: State-owned Punjab National Bank (PNB) on Friday posted a standalone profit of Rs 586.33 crore for the fourth quarter ended March, aided by good incre
As of now, PNB has not revealed as to how much stake it is set to dilute
The city-headquartered state-owned bank had acquired a stake in the life insurer post amalgamation of the erstwhile Oriental Bank of Commerce (OBC) into itself last fiscal year.
RBI to conduct customer satisfaction survey on bank mergers
Last Updated: Apr 26, 2021, 04:52 PM IST
The proposed survey will cover a total of 20,000 respondents from 21 states, including Uttar Pradesh, Maharashtra, West Bengal, Tamil Nadu, Bihar, Karnataka, Madhya Pradesh, and Gujarat. In all, there will be 22 questions.
The RBI will provide the contact number of the customers of bank branches selected from the 21 states.
The Reserve Bank of India (RBI) has decided to conduct a customer satisfaction survey to find out the impact of the recent mergers of state-owned banks on banking services being availed by individuals.
Among other things, the respondents will be asked whether the merger was positive from the point of customer services. The choice before the customer will be to tick one of the following options -- strongly agree; agree; neutral; disagree; or strongly disagree.
PNB extends validity of old cheque of OBC and United Bank of India
PNB cheque validity: Punjab National Bank (PNB) has announced to extend the validity of cheque of account holders in Oriental Bank of Commerce (OBC) and United Bank of India. The validity of old cheque book will now end on June 30.Â
Earlier, PNB had said that existing cheque books of Oriental Bank of Commerce and United Bank of India will be no longer treated as valid from April 1 -- the day new financial year begins.
The bank had asked customers to update their details such as mobile number, address, nominee and other to obtain a new cheque book and passbook.
PNB, Bank of Baroda clarify on cheque book validity. Read this to end confusion
Some banks could also offer more time to customers as the Reserve Bank of India has allowed some banks to continue with the old chequebooks for another quarter or two.Premium
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Are you a customer of any of the eight public sector banks (PSB) merged in the last two years? If yes, then you need to take some actions to keep your account active. But, before knowing the to-do-list, you need to be aware of the names of the banks that have undergone the merger process. These banks are Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Syndicate Bank, Oriental Bank of Commerce, United Bank of India and Allahabad Bank.
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Read more about Seven merged banks to see cheque book changes from April 1 on Business Standard. The banks affected by these changes are Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Oriental Bank of Commerce, United Bank and Allahabad Bank.
PNB and Bank of Baroda stated that the existing cheque books of OBC, United Bank of India, Vijaya Bank, and Dena Bank will get discontinued from April 1, as they are valid only till March 31, 2021
Despite the pandemic, the Allahabad Bank merger with Indian Bank concluded the final technical amalgamation (software integration) last month.
What were the key synergies and cost benefits they obtained due to amalgamation? How many branches were rationalised and how many people were repositioned? What next for the amalgamated entity? Any fundraising on the cards?
In this podcast, we give you an insight on post-merger details and how easy or difficult it was to conclude the amalgamation
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Alert for customers of 7 banks - THESE changes to take place from April 1 - Banks that get merged with other big banks - account number, IFSC, MICR code, branch address, cheque-book, passbook of their customers also change.
The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday