Employees and officers of Allahabad Bank staged a demonstration in front of its headquarters here to protest against the merger.
Following next year, Bank of Baroda had merged Vijaya Bank and Dena Bank with itself.
Last week, the government announced consolidation of 10 public sector banks into four mega state-owned lenders.
The Kolkata-headquartered lender is scheduled to announce its June 2019 quarter earnings on Wednesday.
Allahabad Bank is the second state-owned lender to report a fraud by Bhushan Power and Steel Ltd (BPSL), to the RBI.
NCLT said that alleged fraud reports will not have any impact on the insolvency resolution process and JSW's resolution plan for BPSL.
Bhushan Power & Steel among the first 12 companies referred by RBI to a bankruptcy court for a debt resolution process.
Most of the loans including housing loans are benchmarked against MCLR for one year.
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