Reuters exclusively reports PNB likely to take control of 2-3 small state-run banks

Reuters reported exclusively that India’s Punjab National Bank (PNB) is looking to merge with two or three government owned banks that could include Oriental Bank Of Commerce, Andhra Bank and Allahabad Bank, as New Delhi tries to cut the number of state-owned lenders. PNB could start the process of taking control of the banks in the next three months, Reuters sources said.