RTI: Over 3,400 branches of 26 PSBs closed or merged in last 5 years

Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query. Of this, 75 per cent of the affected branches belong to the country’s biggest lender State Bank of India (SBI). Continue Reading

Editorial: Under one roof

Union Finance Minister Nirmala Sitharaman has made a major announcement on State-owned banks, that will see 10 of them being merged to form four bigger lenders to strengthen a sector struggling with a bad-loan cleanup. Continue Reading