The Telegraph
 
 
IN TODAY'S PAPER
CITY NEWSLINES
 
 
ARCHIVES
Since 1st March, 1999
 
THE TELEGRAPH
 
 
Email This PagePrint This Page
Merger likely by January

Kozhikode, Nov. 16 (PTI): The merger of Nedungadi Bank with Punjab National Bank is likely to be completed by January, said Nedungadi chairman J R Prabhu. Since assets and liabilities of NBL would be taken over by PNB, thereby ensuring total protection to the depositors’ money with interest and that all the employees would be absorbed, the merger proposals are likely to be accepted unanimously by all the quarters.

However, modalities concerning seniority of staff would be worked out by PNB in consultation with NBL. PNB has the right to rationalise the network vis-à-vis retaining “potential centres” and closing down others, Prabhu said.

Top
Email This PagePrint This Page