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A letter about bank merger is going viral on social media. As per the letter the public sector banks are to be merged into 3 groups of SBI, PNB and BOB.
| S. No. | Transferor Banks (Merging Entities) | Transferee Bank (Acquiring Entity) | Name of Resulting Entity |
|---|---|---|---|
| 1 | Indian Bank Bank of Maharashtra Central Bank of India | State Bank of India | SBI Group |
| 2 | Union Bank of India Bank of India Punjab & Sind Bank | Punjab National Bank | Punjab National Bank |
| 3 | Canara Bank Indian Overseas Bank UCO Bank | Bank of Baroda | Bank of Baroda |
Is this true?
The government has said the letter is not genuine and there is no such merger news as of now. The PIB informed the public on social media that the letter is fake.
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