Lockdown not to impact bank consolidation: Govt.

The government has asserted that the bank consolidation plan is very much on track despite a countrywide lockdown announced to combat the corona virus. Beginning April 1, ten public sector banks are set to be merged into four big entities.

Banking Secretary Debasish Panda has also said that the merger process is on track, and he hopes that the banking sector would overcome the challenges thrown by the pandemic.

Some sections had requested that the mega merger exercise should be deferred in view of the COVID-19 outbreak.