RBI issues Press Rleases on 28.03.2020 specifying that Branches of Allahabad Bank to operate as branches of Indian Bank from April 1, 2020, Branches of Andhra Bank and Corporation Bank to operate as branches of Union Bank of India from April 1, 2020, Branches of Oriental Bank of Commerce and United Bank of India to operate as branches of Punjab National Bank from April 1, 2020 and Branches of Syndicate Bank to operate as branches of Canara Bank from April 1, 2020.
Page Contents
- Branches of Allahabad Bank to operate as branches of Indian Bank from April 1, 2020
- Branches of Andhra Bank and Corporation Bank to operate as branches of Union Bank of India from April 1, 2020
- Branches of Oriental Bank of Commerce and United Bank of India to operate as branches of Punjab National Bank from April 1, 2020
- Branches of Syndicate Bank to operate as branches of Canara Bank from April 1, 2020
Branches of Allahabad Bank to operate as branches of Indian Bank from April 1, 2020
Reserve Bank of India
Date : Mar 28, 2020
The Amalgamation of Allahabad Bank into Indian Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Allahabad Bank into Indian Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970). The scheme comes into force on the 1st day of April 2020.
Consequently, all branches of Allahabad Bank will function as branches of Indian Bank from April 1, 2020. Customers, including depositors of Allahabad Bank, will be treated as customers of Indian Bank with effect from April 1, 2020.
(Yogesh Dayal)
Chief General Manager
Press Release: 2019-2020/2136
Branches of Andhra Bank and Corporation Bank to operate as branches of Union Bank of India from April 1, 2020
Date : Mar 28, 2020
The Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980). The scheme comes into force on the 1st day of April 2020.
Consequently, all branches of Andhra Bank and Corporation Bank will function as branches of Union Bank of India from April 1, 2020. Customers, including depositors of Andhra Bank and Corporation Bank, will be treated as customers of Union Bank of India with effect from April 1, 2020.
(Yogesh Dayal)
Chief General Manager
Press Release: 2019-2020/2137
Branches of Oriental Bank of Commerce and United Bank of India to operate as branches of Punjab National Bank from April 1, 2020
Date : Mar 28, 2020
The Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980). The scheme comes into force on the 1st day of April 2020.
Consequently, all branches of Oriental Bank of Commerce and United Bank of India will function as branches of Punjab National Bank from April 1, 2020. Customers, including depositors of Oriental Bank of Commerce and United Bank of India, will be treated as customers of Punjab National Bank with effect from April 1, 2020.
(Yogesh Dayal)
Chief General Manager
Press Release: 2019-2020/2138
Branches of Syndicate Bank to operate as branches of Canara Bank from April 1, 2020
Date : Mar 28, 2020
The Amalgamation of Syndicate Bank into Canara Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Syndicate Bank into Canara Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970). The scheme comes into force on the 1st day of April 2020.
Consequently, all branches of Syndicate Bank will function as branches of Canara Bank from April 1, 2020. Customers, including depositors of Syndicate Bank, will be treated as customers of Canara Bank with effect from April 1, 2020.
(Yogesh Dayal)
Chief General Manager
Press Release: 2019-2020/2139
Source
1. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49588
2. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49589
3. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49590
4. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49591
OFFHAND
“Consequently, all branches of Andhra Bank and Corporation Bank will function as branches of Union Bank of India from April 1, 2020. Customers, including depositors of Andhra Bank and Corporation Bank, will be treated as customers of Union Bank of India with effect from April 1, 2020.”
Points of inconvenient poser(of primary concern to account holders) :
Should / could not the Notification issued / made known just 2 days to go for the cut-off date, with due fore- thought / -sight, have been issued at least a couple of weeks ago :
Is not the notification blatantly bereft of necessary details concerning – for example, –
Fate of online remittances expected to be received on or after April 1, per standing instructions, to the credit of the bank account say, with Corp. Bank , already on record of the remitters/ payers.
Not having been done, one feels strongly that, it is now for the related bank branches to ensure that this, and all such other aspects of no less relevance, – in case not had been taken care of by now- are duly taken care automatically / in the normal course , WITH NO ACTION FROM CUSTOMERS- for, that will only add to the numerous hardships already being faced with, on a daily basis, with no let–up so far, post covid 19 crisis >
AGREE …?!