The Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980). The scheme comes into force on the 1st day of April 2020.
Consequently, all branches of Andhra Bank and Corporation Bank will function as branches of Union Bank of India from April 1, 2020. Customers, including depositors of Andhra Bank and Corporation Bank, will be treated as customers of Union Bank of India with effect from April 1, 2020.
(Also read: Branches of Syndicate Bank to operate as branches of Canara Bank from April 1, 2020)
(Also read: Branches of OBC and United Bank of India to operate as branches of PNB from April 1, 2020)
(Also read: Branches of Allahabad Bank to operate as branches of Indian Bank from April 1, 2020)
(Also read: Repayment of Credit Card dues can be deferred by 3 months)
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