THE GOVERNMENT'S MEGA MERGER PLAN TO STRENGTHEN THE FINANCIAL SYSTEM COMES INTO EFFECT ON APRIL 1st, COMBINING 10 STATE-RUN BANKS INTO FOUR. ANNOUNCED IN AUGUST LAST YEAR, THE MERGER COMBINES PUNJAB NATIONAL BANK, ORIENTAL BANK OF COMMERCE AND UNITED BANK INTO ONE LENDER MANAGING BUSINESS WORTH RS 17.95 LAKH CRORE. AS THE MERGER SCHEME TAKES EFFECT, THE FOUR BANKS THAT WILL ASSUME THE OPERATIONS OF SIX OTHERS IN ADDITION TO THEIR OWN ARE THE PUNJAB NATIONAL BANK, CANARA BANK, UNION BANK AND INDIAN BANK. THE BRANCHES OF THE SIX LENDERS WILL OPERATE AS PART OF THE FOUR ANCHOR BANKS, ACCORDING TO THE RBI. IN TURN, CUSTOMERS AND DEPOSITORS OF THE MERGED BANKS WILL BE TREATED AS CUSTOMERS OF THE FOUR BANKS.