No plans to merge public sector banks: FM Sitharaman
Business
Finance Minister Nirmala Sitharaman has cleared the air: there are no plans right now to merge public sector banks (PSBs).
She said this topic didn't even come up in prebudget talks or with the RBI, despite all the recent buzz about creating bigger government banks.
Government to set up high-level committee to review banking system
Instead of new mergers, the government is setting up a high-level committee to review how banks can help India grow and become more inclusive.
The committee might suggest ways to make PSBs stronger for the future.
Past bank mergers (like in 2019) helped boost efficiency and lending power, but for now, it's all about reviewing and improving rather than combining more banks.