#PSUBanks

.New Delhi, Delhi, India
The eight banks were merged into four big lenders. (Photo Credit: Representational Image/Pixabay)

  • The eight banks include Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Syndicate Bank
  • Oriental Bank of Commerce, United Bank of India and Allahabad Bank were also merged with larger banks
  • Their account-holders will need to get new cheque books and passbooks

.New Delhi, Delhi, India
Here is all you need to know about the bank union strike. (Photo credit: PTI)

  • The United Forum of Bank Unions (UFBU) has called the strike
  • This strike comes right after a two bank holidays on March 13-14
  • The Bank unions are protesting against the proposed privatisation of PSBs

.New Delhi, Delhi, India
Sensex dropped 276 points on Thursday. (Photo Credit: Representative Image/Pixabay)

  • Weak global trends pushed the Sensex down to 51,428.62 points from 51,764.91
  • Bucking the trend were some PSU banks, Infosys, Reliance Industries and SBI
  • ONGC was the top gainer in the Sensex pack, rising around 3% in early trade

.New Delhi, Delhi, India
The government has selected four mid-sized state-run banks for privatisation, a report says. (Photo Credit: Representative/Unsplash)

  • Prime Minister Narendra Modi aims to privatise the banking sector that employs thousands
  • Two of the selected banks will be selected for sale in the 2021-22 financial year: Report 
  • The first round of privatisation of banks will be done by the government to test the waters, report says