Main aim of the government of India is to attain bigger banks instead of increased number of banks. The last huge merging of the three private banks was of Bank of India, Bank of Maharashtra, and Oriental Bank by the reserve banks of India’s PCA. (Prompt corrective action) and Allahabad Bank, Corporation Bank and Dena Bank will be the next to merge as a powerful organisation.
Merging of the bank is not just all, the government need to focus on the privatization but the elections have retained to delay in privatization. Obligatory process if not immediately brought into action, in future new Government formation in states election may terminate privatization procedure by the end of this year.
- 22 Feb 2019