Nirmala Sitharaman reviews amalgamation of public sector banks

Union Finance Minister Nirmala Sitharaman has reviewed the process of the proposed merger of some public sector banks from April 1. The banks concerned made a presentation of their preparedness to ensure a smooth transition and enhanced customer experience.

The Union cabinet had last week given a green signal to the merger of 10 public sector bank unto 4 entities. After the proposed merger, the number of public sector banks would be reduced to 10 from 17 at present.