05 September,2019 05:23 PM IST | | mid-day online correspondent
Pic/Twitter IANS
On Thursday, the board of Punjab National Bank (PNB) gave an "in-principle approval" to the merger with itself of Oriental Bank of Commerce (OBC) and United Bank of India (UBI). The PNB board also approved the sum of Rs 18,000 crore as a capital infusion, which was announced by the Central government last week.
On Wednesday, Moody' Investors Service updated its outlook on the PNB to positive from stable. Centrum Broking had said, "Consolidation has generally been near-term detrimental to the stronger (acquiring) banks and an extended integration period remains a challenge."
ALSO READ
Over 200 social media accounts eulogising gangsters blocked: Punjab Police's AGTF
AAP leader shot dead in Punjab's Khanna
Special police operation held in Punjab ahead of assembly polls in Haryana, J-K
HarvestPlus Solutions and COFCO International Launch Punjab’s First Nutrition School in Ludhiana, Focusing on Breakfast Nutrition
Punjab doctors begin 3-day strike, patients suffer due to suspended OPD services
On Thursday, at around afternoon time, the PNB scrips were trading at 1.84 percent higher at Rs 61 on the BSE.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
