Government of India, Ministry of Finance, Department of Financial Services through its Alternative Mechanism (AM) has accorded in-principle approval to the proposed amalgamation of Corporation Bank and Andhra Bank into Union Bank of India with Union Bank of India as the transferee bank and Corporation Bank and Andhra Bank as transferor banks and accordingly the Bank has to take necessary action in due course of time.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906.
