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.

The board of Punjab National Bank (#PNB) on Sept 5 gave an "in-principle approval" to merger with itself of Oriental Bank of Commerce (#OBC) and United Bank of India (#UBI).

Photo: IANS pic.twitter.com/uoCWFPWjS2