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Capital ratio: 13.68% ... The government of India owned 90.85% of its share capital as of 31 ... The Board of Directors of Andhra Bank approved the merger on 13 ...
On 30 August 2019, Finance Minister Nirmala Sitharaman announced that Corporation Bank and Andhra Bank would be merged into Union Bank of India. The proposed merger would make Union Bank of India the fifth largest public sector bank in the country with assets of ₹ 14.59 lakh crore (US$170 billion) and 9,609 branches. [6] [7] The Board of ...
On 30 August 2019, Finance Minister Nirmala Sitharaman announced that Andhra Bank and Corporation Bank would be merged into Union Bank of India. The proposed merger would make Union Bank the fifth largest public sector bank in the country with assets of ₹ 14.59 lakh crore (US$170 billion) and 9,609 branches. [13] [14] The Board of Directors ...
Rank Name of the Bank Year of Founding Year of Closing Fate Headquartered in References [1]; 1: The Madras Bank (1683) 1683: 1843: Merged with the Carnatic Bank, The British Bank of Madras (1795), and the Asiatic Bank to form the Bank of Madras in 1843
On 30 August 2019, Finance Minister announced that Andhra Bank and Corporation Bank would be merged into Union Bank of India. The proposal would make Union Bank of India the fifth largest PSB with assets of ₹ 14.59 lakh crore (US$170 billion) and 9,609 branches. [63] [54] The Board of Directors of Andhra Bank approved the merger on 13 September.
The share of the bank sector held by the public banks continued to grow through the 1980s, and by 1991 public sector banks accounted for 90% of the banking sector. A year later, in March, 1992, the combined total of branches held by public sector banks was 60,646 across India, and deposits accounted for ₹1,10,000 crore.
A review of the RRBs in August 2009 by the Union Finance Minister revealed that a large number of RRBs had a low Capital to Risk weighted Assets Ratio (CRAR). A committee was constituted in September 2009 under the chairmanship of K C Chakrabarty, [4] the deputy governor of the Reserve Bank of India (RBI) to analyse the financials of the RRBs and suggest measures, including re-capitalisation ...
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]