Kolkata: The central government will soon announce a new name and logo for the unit to be formed after the merger of Punjab National Bank (PNB), United Bank of India (UBI) and Oriental Bank of Commerce (OBC). A bank official has given information in this regard. The new entity will be the second-largest bank in India after the State Bank of India (SBI) with a total business size of Rs 18 lakh crore.

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It is noteworthy that last year, the government had decided to merge the other two banks in PNB with OBC and United Bank. After this merger, PNB will become the second-largest state-run bank in the country. A UBI official said, 'The government will announce the new name and logo of the unit to be formed after the merger. It will come into operation from April 1, 2020. He said that the logo is very important for making the identity of the new bank.

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He said that high-level discussions have been held in this regard among the three public sector banks. The official said that the three banks had constituted 34 committees to standardize and coordinate the procedures. The committees have already submitted their reports to the respective boards of directors.

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