Big Announcement By Finance Minister, 10 Public Sector Banks To Be Merged In 4
The Finance Minister Nirmala Sitharaman conducted a press conference on Friday and announced the merging of 10 public sector banks into 4.
After the merging, only 12 public sector banks will be left instead of 27.
They are:
1. Punjab National Bank + Oriental Bank of India + United Bank of India
2. Indian Bank + Allahabad Bank
3. Union Bank + Andhra Bank + Corporation Bank
4. Canara Bank + Syndicate Bank
The government of India had earlier announced to invest ₹70,000 crores in public banks.
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