The Reserve Bank of India (RBI) on Saturday said the branches of six public sector

banks (PSBs) will function as branches of the four larger PSBs they are getting
merged into, with effect from April 1, 2020.
The RBI said customers, including depositors of Syndicate Bank, will be treated as
customers of Canara Bank with effect from April 1, 2020.
Customers, including depositors of Oriental Bank of Commerce and United Bank of
India, will be treated as customers of Punjab National Bank with effect from April
1, 2020.
Customers, including depositors of Andhra Bank and Corporation Bank, will be
treated as customers of Union Bank of India with effect from April 1, 2020.
Customers, including depositors of Allahabad Bank, will be treated as customers of
Indian Bank with effect from April 1, 2020.
With the mega consolidation of 10 PSBs into four, the number of PSBs will come down
from 18 to 12 -- Bank of Baroda (BoB), Bank of India (BoI), Bank of Maharashtra,
Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Punjab
National Bank (PNB), Punjab & Sind Bank, State Bank of India (SBI), Union Bank of
India and UCO Bank.
Following the consolidation, there would seven large PSBs -- SBI, PNB, BoB, Canara
Bank, Union Bank of India, BoI and Indian Bank -- with scale and national reach
with each amalgamated entity having a business of over Rs 8 lakh crore.