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Cabinet approves merger of PSBs
March 5 , 2020
1624 days
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- The Union cabinet approved the consolidation of 10 public sector banks (PSBs) into four entities.
- This move aims to have fewer but stronger lenders in India.
- At present, India has 18 state-owned banks compared with 27 in 2017.
- After the merger, the number will further come down to 12.
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