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Govt plans major PSB merger, aiming to reduce state-owned banks to four by FY27
Govt is working on a plan to reduce PSBs to four by FY27 through strategic mergers.
The Indian government is preparing a large-scale merger plan for public sector banks (PSBs) to consolidate the sector. By FY27, the number of state-owned banks is expected to be reduced to four. This strategic move aims to improve efficiency, streamline operations, and strengthen the sector against global challenges.