QOTD | Current Affairs | Indian Economy | Banking

Question of The Day01-04-2020

Which of the following bank has been merged with Punjab National Bank?

1. Oriental Bank of Commerce

2. United Bank of India

3. Allahabad Bank

4. Corporation Bank

5. Syndicate Bank

Select the correct answer from the codes given below:

Answer

Correct Answer : b ) 1 and 2 only

Explanation :

The merger of ten Public Sector Banks into four has come into effect from 1st April 2020.

The following table shows the banks merged with which main bank:

Banks	Merger Bank
Allahabad Bank	Indian Bank
Syndicate Bank	Canara Bank
Oriental Bank of Commerce and United bank of India	Punjab National Bank
Andhra Bank and Corporation Bank	Union Bank of India

After the merger, the branches and customers of the banks merged will be considered part of the main bank in which they are merged. There will now be 12 Public Sector Banks in India.

Six independent banks are Indian Overseas Bank, Uco Bank, Bank of Maharashtra, Punjab and Sind Bank, Bank of India, Central Bank of India.

Hence, b is the correct answer.

Questions related to Banking Awareness are widely asked in Banking exams like IBPS PO, IBPS SO, IBPS Clerk, SBI PO, SBI Clerk and also in SSC exams and State PCS exams.

Read Daily Current Affairs, Banking Awareness, Hindi Current Affairs, Word of the Day, and attempt free mock tests at PendulumEdu and boost your preparation for the actual exam.