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The Indian government has plans to bring down the number of public sector banks from 12 to four in one of the biggest consolidation moves in the financial sector.
This is not the first time that India has consolidated its public sector banks. On April 1 2020, the number of public sector banks went from 21 to 12. The Covid-19 situation has triggered a further need to consolidate, as prolonged economic slowdown worsens in India.
IFLR is polling readers on whether public banks should be consolidated in India. Let us know your thoughts by voting here now.
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