PSU Bank Merger: The number of government banks in the country is going to reduce even further. The government is merging small government banks with big banks. The purpose of doing this is to create one big bank instead of small banks, which will improve their working capacity. The government wants that the number of banks should be reduced, but it should emerge as a strong entity so that the financial sector can be reformed, the scope of loans can be increased, the balance sheet and operations can also be improved. In this sequence, preparations are now in full swing to merge six more small government banks.

Which banks are included in the list?

Six small public sector banks like Indian Overseas Bank, Central Bank of India, UCO Bank, Bank of India, Bank of Maharashtra, Bank of India and Punjab and Sindh Bank can be merged with SBI, Bank of Baroda, PNB, Canara Bank or Union Bank. All these six banks are on the radar for the next phase of consolidation.

What was the suggestion of NITI Aayog?

Earlier, a NITI Aayog report had suggested that the government privatize or restructure small banks like Central Bank of India and Indian Overseas Bank. The country’s think tank believes that the Indian government should keep some large public sector banks, including Punjab National Bank (PNB), Bank of Baroda (BoB), Canara Bank, or State Bank of India. Whereas the remaining small government banks can either choose the option of privatization or merger or the government stake in them can be reduced.

According to reports, Indian Overseas Bank can be merged with SBI or PNB. PNB or BoB can take over Central Bank of India. Either SBI or BoB can take over Bank of India. Bank of Maharashtra can be merged with PNB or BoB.

Earlier the merger of these banks took place

Earlier, between 2017 and 2020, 10 small government banks were merged into 4 banks, due to which the number of government banks in the country reduced from 27 in 2017 to 12. State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and Bharatiya Mahila Bank were merged into State Bank of India.

Whereas Oriental Bank of Commerce and United Bank of India were merged into Punjab National Bank. Dena Bank and Vijaya Bank were merged with Bank of Baroda. Syndicate Bank was merged into Canara Bank. Whereas Andhra Bank and Corporation Bank were merged into Union Bank of India and Allahabad Bank was merged into Indian Bank.

Also read:

Price is increasing…Gold price jumped again today, rate of 24 to 18 carat gold increased

Bank wave off average minimum balance charges: The problem of many people is often that if there is no money in the account, the average minimum balance charge is deducted by the bank. But now there is no need to worry about the customers of Savings Accounts. Six big banks, including SBI, have recently abolished the charge incurred in the form of average monthly balance. That is, if your account remains empty, then no charge will be deducted from the bank. Let us know that the banks have now finished the minimum balance charge-

1-Bank of Baroda

The Bank of Baroda has abolished the charcha to not fulfill the terms of minimum balance on all standard savings accounts from 1 July 2025. However, this charge has not been finished on premium savings account schemes.

2-Indian Bank

Indian Bank has also announced to completely eliminate the minimum balance charge on its own. The average minimum balance charge has ended since 7 July 2025 on all types of savings accounts.

3-kenra bank

In the month of May this year, Canara Bank has abolished the minimum balance charge levied on the savings account in all ways, including the regular savings account. These include salary and NRI savings account.

4-PNB

Punjab National Bank has also given relief to its customers and has abolished the minimum average balance charge on all types of savings accounts.

5-State Bank of India

The State Bank of India, who has been charging average minimum balance since 2020, has also ended it now. That is, no charge will be charged even if the terms of minimum balance are not met on the savings account.

6- Bank of Baroda

Bank of Baroda has also decided not to take any charge from the bank customers for not fulfilling the terms of minimum balance. According to the press release of Bank of India, these changes have been made with the aim of increasing the changed conditions and financial flexibility of the market.

Also read: EXPLAINED: 50% on copper and 200% Trump’s tariff on pharmaceutics will affect India?

Bob home loan rates: If you are also planning to buy a house, then there is a good news for you. Bank of Baroda of the public sector has announced to reduce interest on home loans. Bank of Baroda said on Friday (July 4) that the interest rate for home loan has been cut by 5 basis points (BPS) i.e. 0.05 %. With this, now the annual interest rate on home loans has been reduced to 7.45 percent. Apart from this, the bank has also waived processing fees for those taking new loan.

The interest rate was reduced in June also

Earlier on June 6, after a cut of 50 basis points in the repo rate, the bank had reduced the interest from 8 percent to 7.50 percent on the home loan. Now 5 basis points have been cut further. According to the CNBC report, Sanjay Mudaliar, Executive Director, Bank of Baroda, said, “The purpose of this new deduction at home loan rate is to support people’s wishes and increase credit growth.” For home loan you can apply digitally or in-bunch.

These banks also reduce their home loan interest

Apart from Bank of Baroda, Punjab National Bank (PNB), Indian Bank and Bank of India (BOI) have also made their home loans cheaper. All these banks have cut 5 basis points in their marginal cost of lending rate i.e. MCLR in July.

With this rate cut, PNB’s overnight MCLR has come down from 8.25 % to 8.20 percent. At the same time, 1 month MCLR has been reduced to 8.35 percent, 3 months of 8.55 percent and 3 years MCLR 9.20 percent.

Similarly, no change has been made in Indian Bank’s Overnight MCLR 8.20 percent. 1 month MCLR 8.40 percent, 3 months of 8.60 percent, six months MCLR has been reduced to 8.85 percent, 1 year MCLR has been reduced to 9.00 percent.

Bank of India’s Overnight MCLR 8.10 percent, 1 month MCLR 8.40 percent, 3 months of 8.55 percent of 3 months, six months MCLR 8.80 percent, 1 year old MCLR 9.00 percent and 3 -year MCLR 9.15 %.

Also read:

These government schemes have been strong interest compared to FD, no threat to drowning money; Return guarantee

Dividend stocks: Tata Motors, Tata Consultancy Services (TCS), Tata Steel, Larsen & Toubro (L&T), Container Corporation of India, Bank of Baroda besides shares of 20 other companies will remain in the focus next week (on Monday, 2 June 2025 to Friday, 6 June 2025) as these companies have recently diverted their shareholders.

These companies will remain in focus

In this list, JSW Energy, Dr. Lal Pathlabs, L&T Technology Services, INOX India, HDFC Asset Management Company, Nuwama Wealth Management, Jindal Sau, Jindal Saw, Atiya, Sunlord Chemicals, Seshasayi Paper & Boards, Raliles India, East India Drums and Bellys Manufacturing India Names of companies such as IFGL Refractor, Indianmart Intermesh, Maithon Alloys, Nicco Parks and Resorts, QGO Finance, TAAL Enterprises and Technocraft Industries are also included.

What is ex-dividend?

According to the data available on BSE, shares of these companies will trade on X-Dividend next week. X-dividend is the date, the day the company buying the share of dividends is given. If you buy shares after this date, then you are not entitled to that dividend. In such a situation, the demand for these stocks increases on the X dividend date and the prices of shares rise.

This company is giving the most dividend

Of these, HDFC Asset Management Company has announced the most dividend. The company will give Rs 90 dividend to investors on every stock. Its record date is Friday, June 6, 2025. The day after X dividend is a record date. On this day, the company gives dividends to those who will have shares in the demat account. This is followed by Nuwama Wealth Management, which has announced a final dividend of Rs 69 per share. Its record date has been set on Tuesday, June 3, 2025.

Also read:

Suzlon Energy Stock made Gadar, Motilal Oswal advised Buy in the midst of falling market

Protean egov share low: A news came from the Income Tax Department that the Income Tax Department has not named Protean Egov Tehnologies in its PAN 2.0, after which there has been a tremendous decline in the stock of this company. On Tuesday i.e. May 20, the business started and its stock slipped to the level of Rs 995. This is the lowest level during the last 52 weeks i.e. one year. A day earlier, on Monday, the stock had a lower circuit of 20 percent.

At around 11.24 am, Protean Egov Technologies shares were trading at 1,073.20 levels at Rs 70, or 6.12 percent, at 1,073.20. The management has been told by the company that its business is not going to be affected by the absence of this project.

Protein Egov Technology told that PAN 2.0 has no connection with the processing and distribution of the project and RFP is a long -term sto, so it is not going to have any effect on its financial situation.

Project came out of the company’s hand

In the information sent to the stock market on Sunday, the protein was told by the Egav that the proposal for the development, design, operation, maintenance and implementation of PAN 2.0 was issued by the Income Tax Department for the managed service provider. Also, a notice was also issued to order dialects. The company told in the regulatory filing that he had participated in the RFP dialect for that project.

Protein Egov Technology shares have seen a decline of about 15 percent during the last 12 months. The company said in its statement that this project is associated with technology improvement from their understanding, so it includes the design of PAN system, development and other things in the Income Tax Department.
The company further said that its impact on their service of issuing PAN processing under their current contract with income tax is very limited.

Also read: Apple’s big plan despite Trump’s opposition to India, heavy investment of Rs 12800 crore in Tamil Nadu Factory

Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)

Bank of baroda: Bank of Baroda (BOB) of the public sector has reduced its interest rate on home loans. The bank gave this information on Monday. After this amendment, the interest rate on home loan is now 8.40 percent annually as against 8.40 %. The bank informed that these new rates are applicable to new home loans and home improvement loans.

Repo rate was also benefited

Bank of Baroda said in a statement on Monday, May 5, 2025, this rate is applicable to loans of Rs 15 lakh and above. Along with this, it is also associated with the credit score of the borrower. The bank also said that the benefit of reducing the repo rate of the Reserve Bank of India has already been given to the existing borrowers from the bank. Now the bank is giving a concession of 0.05 % annually for female borrowers and 0.10 percent annually for borrowers below 40 years, which is applicable to ready properties, shifting of home loans etc.

Now buying a house is even more affordable

Sanjay Mudaliar, Executive Director of Bank of Baroda, said, “Buying the house at the new interest rate of Bank of Baroda will become even cheaper now. We are also offering special concepts for some more important segments. These new revised rates also make their positions stronger as a bank’s commitment to offer competition and a favorite housing partner to offer competition to those who want to buy a house. ‘

Loan transfer also easy

The bank’s ‘Home Loan Balance Transfer’ Spokes also gives the customers borrowed from other banks and NBFCs to the minimum documents and early processing and also gives a chance to transfer their home loans to Bank of Baroda, which will also give them a chance to take advantage of the low interest rate.

Also read:

Impact of Pahalgam attack: Many international flights are avoiding Pakistani aircraft, neighboring country will lose crores

Job photo gallery

Job web stories

RBI Rate Cut: The Reserve Bank of India on Wednesday cut the repo rate by 25 basis points. With this, the repo rate has now come down to 6 percent. Due to this, many banks have also reduced their lending rates, that is, the interest rate on which the bank gives loans or lending. In such a situation, EMI will also be reduced on car, home or personal loan. Let us see which big public sector banks have taken the decision to reduce the interest rate.

Bank of Baroda

After the repo rate has been reduced, the Overnight Marginal Cost of Funds-based Lending Rate (MCLR) of Bank of Baroda has become 8.15 % overnight. While one year MCLR has come on 9 percent. The bank announced the interest rate cuts for retail and micro, small and medium enterprises (MSME) on Thursday. MCLR means the minimum interest rate on which the bank gives you a loan. The objective of this step is to provide loans to individuals and businesses at a cheap rate so that financial development can also be supported as well as financial inclusion.

Indian bank

Chennai-based Indian Bank has announced a cut of 35 basis points in its repo-linked interest (RPLR). With this, it will be reduced to 8.70 percent. These are coming into effect from April 11.

Punjab national bank

Punjab National Bank (PNB) has also given its repo-linked interest (RPLR) from 9.10 percent to 8.85 percent.

Uco bank

UCO Bank has also reduced its repo-linked interest (RPLR) to 8.8 percent, which will be effective from April 10, 2025.

Bank of india

Bank of India has a new RPLR 8.85 percent, which was earlier 9.10 percent. The bank has informed about its effective from Wednesday.

Also read:

RBI reduced the repo rate amidst the fear of tariffs, EMI from car to home, know what and what effect