Merger Union Bank Bank OF India

[E.RAJENDRAN IYER]

*The initial merger process between Union Bank of India and Bank of India (BoI) seems to have begun, according to sources familiar with the matter.* 

 *Both banks are currently undertaking due diligence, including internal assessments of processes and operational integration. Some officials said the merger could be completed by the end of the calendar year.* 

 *PSU bank mergers to create 4-5 lenders, says official*

 *_“The government is keen to merge smaller banks with larger ones to create four to five big PSU banks instead of the current 12,”_*

 *said a senior banking official aware of the developments, requesting anonymity.* 

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Union Bank of India, Bank of India may merge by year-end - Banking & Finance News | The Financial Express https://share.google/CfoT5jKHFxD2WEylr