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January 2020
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No right to live in India if you can't accept Vande Mataram: Pratap Sarangi        Impossible to provide proof of religious persecution under CAA: Assam Min Himanta Biswa        Real problem in country is unemployment, not population: Owaisi        Shabana Azmi injured in accident on Mumbai-Pune Expressway        Dhawan hit on rib-cage, won't take field during Australia innings: BCCI        Australian all-rounder Mitchell Marsh eyes return to national side        India, Iran should work to expedite Chabahar Port development, connectivity to Afghanistan: Zarif        Forex reserves rise by USD 58 mn to record high of USD 461.21 bn        Putin's, Xi's ruler-for-life moves pose challenges to West        Ukraine PM offers to resign after leaked recording        Top Iran leader: Trump is a 'clown' who will betray Iranians        Don't do politics over Nirbhaya case: Kejriwal to BJP        Will probe Digvijaya's phone-tapping claims: Maha minister        Owaisi hits out at Bipin Rawat on "de-radicalisation" comments        Owaisi hits out at Bipin Rawat on "de-radicalisation" comments        Nirbhaya case: Delhi court issues fresh death warrants against 4 convicts for Feb 1, 6 am        Mithali demoted to Grade B in BCCI central contracts        Ponkratov heads Chennai Open chess tournament field        India, US in advance-stage talks to resolve trade issues: Goyal        Gadkari urges states to come forward in the drive for curbing accidents        
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Business News
34 functional teams to smoothen merger of UBI, PNB, OBC
 
Kolkata: A total of 34 functional teams have been formed to smoothen the process of merger of United Bank of India (UBI), Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC), a senior official said.

The merger is scheduled to come into force from April 1 next year.

"Thirty four functional teams have been created to come out with solutions for the process of integration," a UBI official told PTI.

A team comprises two members each from the three banks from different functional areas, he said.

"The functional teams will also try standardising the loan process, credit terms and benefits extended to the customers in the interim period till the merger comes into effect to avoid customer-related issues in the future," the official said.

The UBI had conducted customer meets at Kolkata, Guwahati and Patna to allay their apprehensions about the future of banking, the official said.

UBI managing director and CEO A K Pradhan had earlier said that though the balance sheet merger is likely to happen by April 1 next year, it will take another three to six months after that for the HR and IT integration to be completed.

He had said the complete harmonisation among the three entities would take another 12 to 14 months after the merger.

Senior officials of the three banks had held a meeting recently.

The merger will make the new entity the second-largest bank in the country after the State Bank of India (SBI) with a total business volume of Rs 18 lakh crore.

This comes after the Centre's announcement to consolidate 10 public sector banks into four.

Allahabad Bank will be merged with Indian Bank while the Union Bank of India, Andhra Bank and Corporation Bank will be amalgamated.

Canara Bank and Syndicate Bank will also be merged.

Last year, the Centre had approved the merger of Vijaya Bank and Dena Bank with Bank of Baroda that came into effect from April 1 this year.

In 2017, the State Bank of India had absorbed five of its associate banks and the Bharatiya Mahila Bank.


India, Iran should work to expedite Chabahar Port development, connectivity to Afghanistan: Zarif
Forex reserves rise by USD 58 mn to record high of USD 461.21 bn
India, US in advance-stage talks to resolve trade issues: Goyal
Gadkari urges states to come forward in the drive for curbing accidents
IndusInd Bank down 5.44 pc to Rs 1400.60
Rupee up by 7 paise against USD
CCI directs probe against Amazon, Flipkart
Panic stricken depositors mill around bank after RBI caps withdrawal limit
US removes currency manipulator label on China ahead of inking of trade deal
Flipkart opens two warehouses in Haryana, to create over 5,000 local jobs
Rupee cuts short 5-day gaining streak; edges down 1 paise to 70.87 against dollar
Rupee extends gains by 8 paise to 70.86 against US dollar
Centre to set up panel to examine issues on royalty rates for major minerals
Tata Motors global sales dip 3 pc dip to 97,348 units in Dec
Huawei exec can be extradited to US, Canada attorney general says
Sebi brings new system audit norms for exchanges, clearing corporations
Oil PSU unions oppose BPCL disinvestment
''Rumours'' of Air India''s shutdown baseless: CMD
Smartphone sales buck slowdown on strong urban, rural demand
Sensex jumps over 11 pts; Nifty above 12,250
KERALA NEWS
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INTERNATIONAL NEWS
Putin's, Xi's ruler-for-life moves pose challenges to West
 Moscow: Russia's Vladimir Putin and China's Xi Jinping have established themselves as the world's mo
Ukraine PM offers to resign after leaked recording
Top Iran leader: Trump is a 'clown' who will betray Iranians
Musharraf approaches Pak SC to suspend death sentence ruling by special court in high treason case
NATIONAL NEWS
No right to live in India if you can't accept Vande Mataram: Pratap Sarangi
 Surat (Gujarat) [India], Jan 19 (ANI): Accusing Congress of spreading misinformation about the Citiz
Impossible to provide proof of religious persecution under CAA: Assam Min Himanta Biswa
Real problem in country is unemployment, not population: Owaisi
Don't do politics over Nirbhaya case: Kejriwal to BJP
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