PNB SBI Canara Bank Merger Rumors Debunked

Power Finance Corporation Ltd NSE:PFC:

In 2003, PNB took over Nedungadi Bank, the oldest private sector bank in Kerala. At the time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its shareholders received no payment for their shares. PNB also opened a representative office in London.

The mergers took effect from 1 April 2020. Allahabad Bank was merged into Indian Bank. Oriental Bank of Commerce and United Bank of India were merged into Punjab National Bank. Andhra Bank and Corporation Bank were merged into Union Bank of India. Syndicate Bank was merged into Canara Bank.

In 1958, the Reserve Bank of India ordered Canara Bank to acquire G. Raghumathmul Bank in Hyderabad. This bank was established in 1870 and converted to a limited company in 1925. At the time of the acquisition, G. Raghumathmul Bank had five branches. The merger took effect in 1961.

The proposed core entities are expected to include State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), and a merged structure of Canara Bank and Union Bank of India. ... Key Banks in the Merger PlanApproval and Vetting ProcessObjectives Behind the MergerHistorical ContextImplications for the Banking SectorNext Steps

Right now, these are mostly rumours and market whispers. No official announcement has been made for any new merger involving SBI or PNB.

The correct answer is PNB, OBC & United Bank of India. Key Points Punjab National Bank (PNB) will take over Oriental Bank of Commerce and Unit

Key Benefit: Enhanced agricultural lending (Syndicate’s strength) merged with Canara’s retail strength

Bank shares rise up to 2% on RBI measures to draw dollar inflows; Canara, Yes Bank, PNB among top gainers Jun 05 2026 01:58 PM