Mega merger of state-run banks comes into force from April 1, says RBI

The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan to create bigger size stronger banks in the public sector. Bank officers' unions, however, earlier this week wrote to the prime minister seeking to defer the merger schemes of lenders due to the lockdown triggered by coronavirus outbreak.

from Economy-News-Economic Times https://ift.tt/2UqLXqG