PSB mergers to come into effect from April 1: FM

Finance minister Nirmala Sitharaman on Wednesday said the exercise of consolidation of 10 public sector banks (PSBs) into four is on course and the merger will come into effect from April 1, 2020. The Union Cabinet, she said, has given a go-ahead for the merger proposal and the govt has been in regular touch. There will be no regulatory issues, she said.

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