New Delhi: The government has given a statement on the question arising over the merger of ten state-owned banks by the central government. The government has stated in this country interest. The merger of 10 public sector banks into four banks will have a favorable impact on the condition of the banks. Finance Secretary Rajiv Kumar has given this information. Rajiv Kumar has said that the number of 12 public banks to meet the needs of a new India is absolutely reasonable. After the completion of this integration, the number of nationalized banks in the country will come down to 12.
On 30 August, the government had announced the integration of 10 public sector banks to form four banks. Kumar said that this decision of the government will help in achieving the goal of the economy of $ 5,000 billion. He said, 'The country needs big banks to support the next phase of growth. The big announcement of the merger of banks will help in this.
Now we will have six large-size banks. The capital base, size, scale and efficiency of these banks will be high. Kumar has spearheaded the campaign to keep the books of the banking sector clean and tidy. Many things have happened for the first time in his tenure. They have the most capital infusion in banking history. Similarly, for the first time, three banks have been merged under the leadership of Bank of Baroda. Opponents opposing this move of the government are talking about the loss of jobs in it. While the government says that there is no threat to jobs.
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