Centre planning to create 3-4 mega state-run banks, cutting their number from 12: Report
The Centre is planning to consolidate existing 12 state-run banks into 3-4 mega public sector banks in an effort to create larger and more globally competitive lenders, ET reported. The last round of restructuring in 2020 had brought the number down from 27 to 12. The new consolidation round will depend on synergies and consultations with lenders, an official said.