10 PSU Banks to be Merged From Today: All You Need to Know, The customers of the 10 banks will be treated as the customers of the banks their banks got merged with. Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank. Syndicate bank will be merged with Canara Bank, Indian bank will be merged with Allahabad Bank, Union Bank of India will be merged with Andhra Bank and Corporation Bank, Indian Overseas Bank, Uco Bank, Bank of Maharashtra, Punjab and Sind Bank, Bank of India, Central Bank of India will remain the independent banks. The customers of the 10 banks will be treated as the customers of the banks their banks got merged with. Punjab National Bank will become the second-largest lender after the merger. The first is the State Bank of India.
The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009, but world economic output should recover in 2021, the International Monetary Fund said on Monday.