Govt planning merger of 4 public sector banks

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The government of Indian is planning to merge 4 banks as per reports. The indian government had merged 5 associate banks and SBI with Bharatiya Mahila Bank on April 1, 2017, to catapult the country’s largest lender to among the top fifty banks in the world.

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So the government is planning to merge four banks name as  Bank of Baroda, IDBI Bank Ltd, Oriental Bank of Commerce and Central Bank of India. If this will happen it will become the second largest bank after SBI  in India, These four banks had reported a combined loss of Rs 21,646.38 crore in the year ended 31 March.

Government officials did not comment, saying the matter is very market sensitive. The main reason for creating large banks is to address the toxic loan issue.

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