In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.
One of the greatest gaining from the 2007-08 worldwide budgetary emergency is that huge banks could present foundational dangers that jeopardize the whole economy. Unexpectedly, little is delightful.
This is how media consideration is currently occupied from terrible development number to bank merger after the FinMin Nirmala Sitharam declaration of a super merger of public sector banks (PSBs)
Recalled in 1993 how Punjab National Bank (PNB) official were lived in injury of its merger with New Bank of India. it took a long time for PNB to recoup from the impacts of being a hesitant suitor.
With 27 public sector banks, including the second largest PNB, being merged and reduced to 12, almost every other individual who has a savings account or fixed deposit with a public sector bank is likely to be impacted.
Currently our PSB need bank oriented economy to grow rather than pointless merger.
Comments