Union Bank of India & IDBI Bank join the big league

Analysts tracking bank stocks may make a mental note of a reclassification of all stateowned lenders by the finance ministry.

Banks with a total business of over Rs 3 lakh crore are 'large banks', those with Rs 3- 1.50 lakh crore business are 'medium sized' banks while 'small banks' are the ones with less than a Rs 1.50 lakh crore business.

With this, Union Bank of India and IDBI Bank have entered the league of large banks along with SBI, PNB, Bank of Baroda, Bank of India, Canara Bank and Central Bank of India.

Contributed by Shivapriya N, Nishanth Vasudevan & Sangita Mehta