PSB amalgamations in the 2000s and 2010s

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State Bank of India (SBI)

  • SBI merged with its associate banks State Bank of Saurashtra in 2008 and State Bank of Indore in 2010. The merger process of its remaining five associate banks (State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore) along with Bharatiya Mahila Bank was approved by the Union Cabinet on 15 June 2016. The merger officially took effect from 1 April 2017 after receiving final approval.

Bank of Baroda (BOB)

  • On 17 September 2018, the Government of India proposed the amalgamation of Dena Bank and Vijaya Bank with Bank of Baroda. The merger was approved by the boards of all three banks on 2 January 2019 and became effective from 1 April 2019. Shareholders of Dena Bank and Vijaya Bank received shares of Bank of Baroda under specified terms.

Punjab National Bank (PNB)

  • On 30 August 2019, the Finance Minister announced the merger of Oriental Bank of Commerce and United Bank of India with Punjab National Bank (PNB). The merger was approved by the Union Cabinet on 4 March 2020, and the amalgamation officially commenced on 1 April 2020. Post-merger, PNB became the second largest public sector bank in India by assets.

Canara Bank

  • Also announced on 30 August 2019, Syndicate Bank was merged with Canara Bank to create the fourth largest public sector bank in India. The merger was approved by the Union Cabinet on 4 March 2020, and Canara Bank assumed control over Syndicate Bank on 1 April 2020.

Union Bank of India

  • The merger of Andhra Bank and Corporation Bank with Union Bank of India was announced on 30 August 2019. It was approved by the Union Cabinet on 4 March 2020 and took effect from 1 April 2020. The merger positioned Union Bank of India as the fifth largest public sector bank in India by assets.

Indian Bank

  • Allahabad Bank was merged with Indian Bank as announced on 30 August 2019, creating the seventh largest public sector bank in India by assets. The merger was approved by the Union Cabinet on 4 March 2020 and was implemented on 1 April 2020.