There has been significant progress on the amalgamation including approvals from the Boards of the banks.
Reserve Bank had separate departments for supervisory, regulatory functions which were integrated into two unified departments.
PMC Bank came under stress due to alleged financial irregularities forcing the RBI to impose restriction on it.
The lender has invited bids from asset reconstruction companies (ARCs)/ NBFCs/ banks/ financial institutions for 11 NPA accounts.
The board shall consider capital infusion up to Rs 18,000 crore in its meeting scheduled on September 5, 2019, PNB said.
A penalty of Rs 50 lakh was imposed by the RBI on the bank.
Sequentially, the bank had suffered a huge loss of Rs 4,750 crore in the fourth quarter of the preceding fiscal ended March 2019.
Total income rose to Rs 15,161.74 crore during the June quarter of 2019-20, as against Rs 15,072.41 crore.
Allahabad Bank is the second state-owned lender to report a fraud by Bhushan Power and Steel Ltd (BPSL), to the RBI.
"Monday's the market fall has been due to a combination of global and domestic factors.