PSU Bank Mergers to blame: Deep Recession hits India in 2020

Economic slowdown has worsened in August despite active push by government with boosters to rejuvenate the economy. Furthermore, merger of PSU banks might increase the chances of Recession-hit India in 2020.

Mega merger: India’s ten public sector banks to be consolidated into four

Finance Minister Nirmala Sitharaman today announced a big consolidation of public sector banks, 10 public sector banks to be merged into four. PNB, Indian Bank, Canara Bank and Union Bank of India will be the four anchor banks.

Power of Three: To Save One

In a bid to have a banking environment with fewer but healthier lenders, India witnessed its first ever merger of 3 public sector banks. HEAD SHOT In the first 3-way merger in the country’s history, two smaller public sector banks,…