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.

India’s list of wilful defaulters is growing

Finance Minister informed the Lower House that public sector banks (PSBs) had filed suits for recovery from defaulters in 8,121 cases till March 31, 2019.