₹2,500 cr benefits due to amalgamation: CEO Rajkiran Rai G

India covid-19 outbreak Department

29.03.2020 - 13:25

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Union Bank said implementation of all the processes under amalgamation will happen without much disruption to customers and employees of Andhra Bank and Corporation Bank State-owned Union Bank of India, which is amalgamating Andhra Bank and Corporation Bank with it, hopes to reap cost benefits of over ₹2,500 crore through rationalisation of branches and savings on technology on the combined entity.

The amalgamation of the three banks, which will be effective from April 1, is part of the government’s mega consolidation of 10 public sector banks to create four global-sized lenders, beginning next financial year.

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Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

₹2,500 cr benefits due to amalgamation: CEO Rajkiran Rai G

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