In recent years, many crises have been seen in the financial institutions, which led to the merger of many banks together. In this article, you will learn about the Indian bank and its mergers bank, like which bank it has been merged with? What was the reason behind it?
But before this, it’s essential to know what is meant by the merger of a bank?
What is a Bank Merger?
A bank merger is when a weak financial institute is combined with another comparatively established bank with its assets and customers. Or A weak bank facing financial issues is dissolved in any other bank with their customers.
Which Bank is Merged With Indian Bank?
Allahabad bank was merged with Indian bank on 1 April 2020.
Indian bank merger List
Allahabad bank on 1 April 2020.
Allahabad Bank Merger with Indian Bank
Due to the financial crisis, Allahabad bank dissolved as an Indian bank.