Over 3,400 branches of 26 public sector banks closed or merged in last 5 years: RTI
5 years, 2 months ago

Over 3,400 branches of 26 public sector banks closed or merged in last 5 years: RTI

Firstpost  

Over 3,400 branches of 26 public sector banks have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query Indore: Over 3,400 branches of 26 public sector banks have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query. To a query under the Right to Information Act filed by a Neemuch-based activist Chandrashekhar Gaud, the Reserve Bank of India informed that 26 PSBs of the country either closed or merged 90 branches during FY 2014-15, 126 branches in 2015-16, 253 branches in 2016-17, 2,083 branches in 2017-18 and 875 branches during 2018-19. According to RTI reply, the maximum 2,568 branches of the SBI were affected due to merger or closure in the last five financial years. All India Bank Employees’ Association General Secretary C H Venkatachalam told PTI that at least 7,000 branches of these banks likely to be affected, if the government forms four big banks out of the ten state-owned banks in the country.

Bank State Banks Rti Merger Sbi State Bank Branches Merged Psbs  state  psbs  merger  public  26  financial  banks  3400  rti  merged  bank  sector  closed  branches

History of this topic

India: Centre rules out new PSU bank mergers
1 month, 1 week ago

India: Centre rules out new PSU bank mergers

Deccan Chronicle  

New Delhi: The Centre may not consider merger of public sector banks as several reforms undertaken by the government in the banking sector have created systemic improvements and instituted checks and controls to minimise the risk of recurrence of excessive stress, the government said on Tuesday. “The reforms undertaken by the government in the banking sector have created systemic improvements …

Karnataka government to close SBI, PNB accounts
4 months, 3 weeks ago

Karnataka government to close SBI, PNB accounts

Hindustan Times  

Karnataka’s finance department on Wednesday directed all state government departments, public sector undertakings, boards, corporations, local bodies, universities, and other state-run institutions to close their accounts with State Bank of India and Punjab National Bank. The other case pertained to the Karnataka State Pollution Control Board, which had invested ₹10 crore in a fixed deposit at the erstwhile State Bank …

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why
4 months, 3 weeks ago

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why

Live Mint  

Karnataka Government has instructed all its departments, public sector units, universities, and subordinate organizations to cease all transactions with the State Bank of India and Punjab National Bank, as quoted by The Economic Times. The Finance department issued a circular to all department heads, highlighting that the Karnataka Industrial Areas Development Board was unable to recover a deposit from Punjab …

Government may introduce amendments to laws to push banking sector reforms in Budget session
5 months, 4 weeks ago

Government may introduce amendments to laws to push banking sector reforms in Budget session

The Hindu  

The government is likely to introduce amendments to Banking Regulation Act 1949 and other laws to push banking sector reforms during the upcoming Budget session. Apart from this, amendments in the Banking Companies Act, 1970, and the Banking Companies Act, 1980 are needed for privatisation of public sector banks, sources said. Amendments, if approved by Parliament, would help bring down …

India’s growing economy needs bigger banks
11 months ago

India’s growing economy needs bigger banks

Live Mint  

Finance minister Nirmala Sitharaman has said that India needs more banks the size of State Bank of India, or even larger. As our economy grows, lending capacity must expand and large lenders can lend larger sums without asset-concentration risk. In 2019, the government decided to merge at least 10 state-run banks to create four larger ones. Also expected was a …

India needs more SBI-sized banks, or three times larger: FM Nirmala Sitharaman
11 months ago

India needs more SBI-sized banks, or three times larger: FM Nirmala Sitharaman

Live Mint  

New Delhi: India needs more “SBI-size” banks to meet the growing needs of the economy and industry, particularly as the country aspires to grow to be the world’s third-largest economy, finance minister Nirmala Sitharaman said. In an interview with Mint, the finance minister said the country needs to create an atmosphere so larger overseas banks can enter India, and more …

FinMin revises letter, scotches PSU bank merger speculation
1 year ago

FinMin revises letter, scotches PSU bank merger speculation

Live Mint  

The Union finance ministry has rectified the agenda of a parliamentary committee meeting scheduled for early next year, putting an end to speculation of a potential merger of public sector banks—UCO Bank with Union Bank of India, and Bank of India with Bank of Maharashtra. In a letter addressed to, among others, the bank chiefs of the four PSU banks …

Privatisation Of Banks To Go Forward As Per Schedule: Finance Minister Nirmala Sitharaman
1 year, 7 months ago

Privatisation Of Banks To Go Forward As Per Schedule: Finance Minister Nirmala Sitharaman

ABP News  

Union Finance Minister Nirmala Sitharaman on Monday said the privatisation of public sector banks will go ahead as planned. The minister, while addressing the media on the occasion of the Narendra Modi government completing nine years in power, in Mumbai said, "About the bank privatisation, they will go on as per schedule. "Other than IDBI Bank, we propose to take …

Inside Bank of Baroda’s silent transformation
1 year, 9 months ago

Inside Bank of Baroda’s silent transformation

Live Mint  

In the last week of September 2021, Mukund Rajan, the former chief ethics officer at the Tata Group, showed a bunch of Bank of Baroda executives a video clip from the 26/11 terror attacks in Mumbai. Led by Sanjiv Chadha, the bank’s current managing director and chief executive officer, the lender is on a mission to reinvent itself by adding …

SBI says loan demand is bouncing back as its shares outperform peers
2 years, 6 months ago

SBI says loan demand is bouncing back as its shares outperform peers

Live Mint  

Consumer cutbacks due to raging inflation and higher borrowing costs are failing to dent investment plans at Indian businesses tapping the country’s biggest lender, a sign that a recovery in Asia’s third-largest economy is gathering pace. Companies are steadily drawing down from a $71 billion loan pipeline, Dinesh Kumar Khara, chairman of State Bank of India, told Bloomberg News in …

Bank Privatisation: Central Bank of India, Indian Overseas Bank May Be Privatized This Fiscal
3 years, 7 months ago

Bank Privatisation: Central Bank of India, Indian Overseas Bank May Be Privatized This Fiscal

News 18  

The Centre could privatise the two-state run banks — Central Bank of India and Indian Overseas Bank soon, according to report by Times of India. NITI Ayog, the government think-tank has recently submitted a report to the core group of secretaries on Disinvestment mentioning the names of the two banks the would be privatised this fiscal, news agency PTI mentioned. …

Centre likely to bring amendments to two legislations to facilitate privatisation of PSU banks
3 years, 10 months ago

Centre likely to bring amendments to two legislations to facilitate privatisation of PSU banks

Firstpost  

New Delhi: To facilitate the privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. Finance Minister Nirmala Sitharaman while presenting Budget 2021-22 earlier this month had announced the privatisation of Public Sector Banks as part of disinvestment drive to garner Rs 1.75 lakh crore. “Other than IDBI Bank, we propose to …

Govt to amend two Acts to enable privatisation of PSU banks
3 years, 10 months ago

Govt to amend two Acts to enable privatisation of PSU banks

India TV News  

To facilitate privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. The ongoing Budget session is scheduled to take up as many as 38 Bills including the Finance Bill 2021, Supplementary Demands for Grants for 2020-21 and related Appropriation Bill, National Bank for Financing Infrastructure and Development Bill, 2021, and Cryptocurrency …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
3 years, 11 months ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18  

With the Union Budget due to be presented on Monday, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
3 years, 11 months ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18  

With the Union Budget less than a week away, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross non-performing …

AIBOC Opposes Merger of LVB with DBS Bank, Pitches for Merger With State-owned Bank
4 years, 1 month ago

AIBOC Opposes Merger of LVB with DBS Bank, Pitches for Merger With State-owned Bank

News 18  

A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank with subsidiary of Singapore-based DBS, public sector banks’ officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to …

Rajan, Acharya may be off mark: PSU banks need strategy and focus to survive, not privatisation as remedy
4 years, 3 months ago

Rajan, Acharya may be off mark: PSU banks need strategy and focus to survive, not privatisation as remedy

Firstpost  

The PSU banks’ problem is often linked to India’s burgeoning fiscal deficit that needs control because pumping taxpayer money into state-run banks is fraught with risks. It is interesting that two of India’s biggest brand-name economists, former Reserve Bank governor Raghuram Rajan and former deputy governor Viral Acharya, have spoken for the “re-privatisation” of public sector banks even as the …

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
4 years, 9 months ago

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

Firstpost  

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday New Delhi: The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday. …

PSB mergers the new hurdle for resolutions under IBC
4 years, 9 months ago

PSB mergers the new hurdle for resolutions under IBC

Live Mint  

The approaching deadline for the merger of small public sector banks with their larger counterparts is slowing down resolution of cases under the Insolvency and Bankruptcy Code. While small state-run banks generally have limited influence in lender committees of large assets, in cases where they have a substantial say, key decisions on resolution are being postponed until the ongoing mergers …

SBI rules out merger with crisis-hit Yes Bank
4 years, 10 months ago

SBI rules out merger with crisis-hit Yes Bank

India TV News  

SBI chairman Rajnish Kumar on Saturday said that there is no question of a merger with the Yes Bank, as it is evaluating the restructuring draft scheme of the crisis-hit bank. "There is no question of a merger of the bank with the state-run bank," SBI said amid Yes Bank crisis, according to the Economic Times. Meanwhile, SBI chairman said, …

10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline
4 years, 10 months ago

10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline

Firstpost  

The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from 1 April, 2020 New Delhi: With the March-end deadline for the biggest-ever amalgamation scheme is approaching, ten state-owned banks on Thursday announced swap ratios for the proposed mergers. Andhra Bank said, “Further, the board of directors of …

Govt closely monitoring coronavirus impact on economy: Nirmala Sitharaman
4 years, 10 months ago

Govt closely monitoring coronavirus impact on economy: Nirmala Sitharaman

The Hindu  

February 26, 2020 08:43 pm | Updated November 28, 2021 12:27 pm IST - New Delhi Finance Minister Nirmala Sitharman on Wednesday said the government is keeping a close watch on the impact of the COVID-19 outbreak on the Indian economy. On bank mergers, Ms. Sitharaman said there is “no uncertainty about bank merger” and the process is on as …

SBI Bank branches to be shut down for customers? Here's what central govt says
4 years, 10 months ago

SBI Bank branches to be shut down for customers? Here's what central govt says

India TV News  

Is the entral government planning to shut down State Bank of India branches across the country and replace them with e-corners? Rubbishing the report, Union Minister of State for Finance Anurag Thakur said Parliament that government has no plans to shut down branches o SBI Bank or reduce the number of the employees of the country’s largest lender. According to …

Govt likely to notify merger of 10 PSU banks this week; all lenders to complete amalgamation procedures by April
4 years, 11 months ago

Govt likely to notify merger of 10 PSU banks this week; all lenders to complete amalgamation procedures by April

Firstpost  

The banks will need to follow regulatory formalities to protect the interest of minority shareholders. The government is expected to notify the merger of 10 public sector banks that it had announced last year to create four big banks this week and the merger process may be completed by April, said a news report. Union Bank, Andhra Bank, Corporation Bank …

No job losses post merger of 10 PSBs: Government
5 years, 1 month ago

No job losses post merger of 10 PSBs: Government

India TV News  

The government on Tuesday assured the Rajya Sabha that merger of 10 public sector banks will not lead to any job losses and employees' interest will be protected. During the Question Hour, Minister of State for Finance Anurag Singh Thakur said lending and other banking services to eastern states will be improved after two Kolkata-based banks are merged. "Amalgamating banks …

Strategic sale in 5 PSUs: Govt’s messed up fiscal math has just got a major face-saver; privatisation drive positive for economy
5 years, 1 month ago

Strategic sale in 5 PSUs: Govt’s messed up fiscal math has just got a major face-saver; privatisation drive positive for economy

Firstpost  

The stake will be brought down in select PSUs to 51% while retaining the management control on a case-to-case basis, the government said. One of the key prerequisites for any country aspiring for sustainable economic development—government’s firm willingness to cede control in public sector undertakings and bring in more private participation—is finally taking place in growth-starved Indian economy. In a …

PSU bank consolidation: PNB, Union Bank get in-principle nod from govt for proposed merger
5 years, 1 month ago

PSU bank consolidation: PNB, Union Bank get in-principle nod from govt for proposed merger

Firstpost  

New Delhi: Punjab National Bank and Union Bank of India on Monday said they have received in-principle approval from the government for their amalgamation with other public sector banks. “Bank has received a letter dated 13 November, 2019 from Department of Financial Services, Ministry of Finance vide which bank has been advised that Alternative Mechanism, has accorded in-principle approval to …

Over 3,400 branches of 26 PSBs closed or merged in last 5 years: RTI
5 years, 2 months ago

Over 3,400 branches of 26 PSBs closed or merged in last 5 years: RTI

India TV News  

Over 3,400 branches of 26 public sector banks have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query. Of this, 75 per cent of the affected branches belong to the country's biggest lender State Bank of India. To a query under the Right …

Bank Strike Alert: Banking services to be hit across several cities for 4 days; check details
5 years, 2 months ago

Bank Strike Alert: Banking services to be hit across several cities for 4 days; check details

India TV News  

Bank Strike Alert: Banks in Maharashtra and Haryana will remain open for only three days this week on account of the Assembly Elections in the states and bank unions strike. Bank employees unions have called a rike on October 22 against the Centre's decision to merge 10 state-run Public Sector Banks into four. Due to this, banking operations could be …

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
5 years, 3 months ago

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April

Firstpost  

The complete harmonisation among the three entities would take another 12 to 14 months after the merger Kolkata: A total of 34 functional teams have been formed to smoothen the process of merger of United Bank of India, Punjab National Bank and Oriental Bank of Commerce, a senior official said. “The functional teams will also try standardising the loan process, …

No concern to asset quality post UBI, OBC merger: PNB CEO
5 years, 3 months ago

No concern to asset quality post UBI, OBC merger: PNB CEO

India TV News  

The Punjab National Bank, which is the anchor bank for a scheduled merger with the United Bank of India and the Oriental Bank of Commerce, has said that it does not see any erosion in asset quality after the merger and the best HR, process and products will be chosen for the consolidated entity to offer a win-win situation for …

RBI to ensure mega bank mergers non-disruptive, central bank in discussion with govt: Shaktikanta Das
5 years, 3 months ago

RBI to ensure mega bank mergers non-disruptive, central bank in discussion with govt: Shaktikanta Das

Firstpost  

The Reserve Bank of India is in discussions with the government to ensure that the mega bank merger process is carried out in a non-disruptive, governor Shatikanta Das said on Friday Mumbai: The Reserve Bank of India is in discussions with the government to ensure that the mega bank merger process is carried out in a non-disruptive, governor Shatikanta Das …

Five things to watch out for in Nirmala Sitharaman’s meeting with PSB heads
5 years, 3 months ago

Five things to watch out for in Nirmala Sitharaman’s meeting with PSB heads

Live Mint  

Finance minister Nirmala Sitharaman will meet heads of public sector banks on Thursday for a review meeting. Under the merger plan, Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together to form the second largest public sector bank in the country, after State Bank of India. While announcing the merger, finance secretary Rajiv Kumar had …

Strike call given by bank officers' union may affect normal business at branches: SBI
5 years, 3 months ago

Strike call given by bank officers' union may affect normal business at branches: SBI

Firstpost  

New Delhi: The State Bank of India on Monday said the operations of the bank could be affected if the two-day strike call given by officers’ unions materialises. The bank has been advised by Indian Banks’ Association that the All India Bank Officers’ Confederation, All India Bank Officers’ Association, Indian National Bank Officers’ Congress and National Organisation of Bank Officers …

Bank unions call for two-day strike from Sept 26, SBI says normal ops likely to be affected
5 years, 3 months ago

Bank unions call for two-day strike from Sept 26, SBI says normal ops likely to be affected

India TV News  

If you are planning to carry out any important bank-related work on September 26 and 27, you might have to do it before or post it as operations in key public sector banks are likely to be hit due to proposed strike of bank unions. Sitharaman said the Punjab National Bank, Oriental Bank of Commerce and United Bank will merge …

Mega mergers fail to lure funds to state-run bank stocks
5 years, 3 months ago

Mega mergers fail to lure funds to state-run bank stocks

Live Mint  

Singapore: India’s biggest bank overhaul in decades to merge state-run lenders beset with bad loans and low capital hasn’t convinced investors to increase holdings of the shares. “State run banks do have a large asset-quality burden,” said Rukhshad Shroff, who oversees more than $660 million in India equities at JPMorgan Chase & Co.’s asset management unit in Hong Kong. There …

12 PSU banks almost right for India, says Finance Secretary
5 years, 4 months ago

12 PSU banks almost right for India, says Finance Secretary

Live Mint  

New Delhi: The amalgamation of 10 public sector banks into four has nearly ended the consolidation process and created almost the right number of banks to cater to the needs of the aspirational and new India, Finance Secretary Rajiv Kumar said This exercise will create six global size banks and will bring down the number of nationalised public sector banks …

Union Bank of India board meet on 9 September to approve amalgamation of Andhra Bank, Corporation Bank with itself
5 years, 4 months ago

Union Bank of India board meet on 9 September to approve amalgamation of Andhra Bank, Corporation Bank with itself

Firstpost  

New Delhi: State-owned Union Bank of India on Wednesday said its Board will meet on 9 September to approve amalgamation of Andhra Bank and Corporation Bank with itself. Besides, the board would also take up the matter related to capital infusion of Rs 11,700 crore, Union Bank of India said in a regulatory filing. In a separate filing, United Bank …

Watch | Merger of public sector banks
5 years, 4 months ago

Watch | Merger of public sector banks

The Hindu  

In what comes as the second wave of the government’s efforts to revive the economy, Finance Minister Nirmala Sitharaman on Friday announced a slew of banking reform measures, including merger of 10 public sector banks into four entities. This would take the number of banks in the country from 27 in 2017 to 12, Ms. Sitharaman said. These bank mergers, …

PSB stocks plunge up to 10.6% post merger announcement
5 years, 4 months ago

PSB stocks plunge up to 10.6% post merger announcement

India TV News  

Public sector bank stocks, led by Canara Bank, Union Bank and Punjab National Bank, tumbled up to 10.6 per cent on Tuesday after the government announced the merger of 10 state-run lenders into four. Shares of Canara Bank dropped 10.59 per cent, Union Bank of India fell 9.08 per cent, Punjab National Bank plunged 8.55 per cent, Oriental Bank of …

Indian Bank expects to complete merger with Allahabad Bank by 31 March: Managing Director Padmaja Chunduru
5 years, 4 months ago

Indian Bank expects to complete merger with Allahabad Bank by 31 March: Managing Director Padmaja Chunduru

Firstpost  

New Delhi: State-owned Indian Bank expects to complete the merger with Allahabad Bank by the end of current fiscal, a top official said. Last week, the government announced the consolidation of 10 public sector banks into four mega state-owned lenders, including the merger of Allahabad Bank with Indian Bank. I expect that all the process should ideally be over by …

Indian Bank expects to complete merger with Allahabad Bank by March 31
5 years, 4 months ago

Indian Bank expects to complete merger with Allahabad Bank by March 31

India TV News  

State-owned Indian Bank expects to complete the merger with Allahabad Bank by the end of current fiscal, a top official said. Last week, the government announced consolidation of 10 public sector banks into four mega state-owned lenders, including merger of Allahabad Bank with Indian Bank. Indian Bank last week received a communication from Ministry of Finance that the Alternative Mechanism …

Bank merger: Officers associations to meet in Delhi on September 5
5 years, 4 months ago

Bank merger: Officers associations to meet in Delhi on September 5

India TV News  

Opposing the merger of banks, officers associations of various banks will meet in the national capital on September 5 to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday. Finance Minister Nirmala Sitharaman last week announced the merger of Oriental Bank of Commerce and United Bank with Punjab …

Mixed reactions from brokerage firms on banking merger
5 years, 4 months ago

Mixed reactions from brokerage firms on banking merger

India TV News  

Brokerage firms on Tuesday said that by and large the consolidation in the banking sector is a positive move, yet it can weigh on the merging entities in the near term. State Bank of India, Bank of Baroda and leading private sector banks would edge the merging banks to be in a stronger position. Kotak Securities said: "Our thesis remains …

PSU banks merger woes: Bank officers associations to meet in Delhi on 5 September
5 years, 4 months ago

PSU banks merger woes: Bank officers associations to meet in Delhi on 5 September

Firstpost  

Hyderabad: Opposing the merger of banks, officers associations of various banks will meet in the national capital on 5 September to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday. Finance Minister Nirmala Sitharaman last week announced the merger of Oriental Bank of Commerce and United Bank with …

PSB mega mergers: PNB to consider Rs 18,000-cr capital infusion in board meeting on 5 September
5 years, 4 months ago

PSB mega mergers: PNB to consider Rs 18,000-cr capital infusion in board meeting on 5 September

Firstpost  

Finance Ministry has decided that PNB, OBC and UBI may consider the amalgamation of OBC and UBI into PNB New Delhi: The Punjab National Bank on Monday said the board will consider capital infusion of up to Rs 18,000 crore in its meeting later this week. “The board shall consider capital infusion up to Rs 18,000 crore in its meeting …

Opinion | Bank mergers are no silver bullet for India
5 years, 4 months ago

Opinion | Bank mergers are no silver bullet for India

Live Mint  

With every passing day, India’s economic indicators are turning a little bleaker. Thus, one of the few areas where there’s new investment may be affected, especially with a sharp rise in debt levels of the government agency that gives out the contracts. State Bank of India, the largest lender, will require ₹15,000 crore in the current fiscal year, according to …

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar
5 years, 4 months ago

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar

Firstpost  

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders New Delhi: The government’s decision to consolidate 10 public sector banks into four mega state-owned lenders will act as a building block for achieving $5 trillion economy target, Finance Secretary Rajiv Kumar has …

There will not be a single job loss due to merger of banks, assures Nirmala Sitharaman
5 years, 4 months ago

There will not be a single job loss due to merger of banks, assures Nirmala Sitharaman

Firstpost  

The merger of banks will bring down the number of state-run banks to 12 from 19 after the merger of Dena Bank and Vijaya Bank with Bank of Baroda effective April 2019. Chennai: Finance Minister Nirmala Sitharaman on 1 September allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be …

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