2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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38
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45
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65
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95
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Detailed explanation-1: -The Indian banking system is currently sub-scale compared to the size of the economy. A large economy needs larger and stronger banks to support its growth. Merger of smaller PSBs to create larger ones is a one strategy to attain this goal.
Detailed explanation-2: -Later as per the demand of the economy and the citizens, several banks were Nationalised. Nationalized banks are those in which government has more than 50% shareholding. There are a total of 12 public sector banks in India today. These banks were nationalised and are currently run by the government.
Detailed explanation-3: -National banks in India India currently, has 12 nationalised public sector banks. The number of nationalised banks in India has been significantly reduced after the government in 2021 merged 10 PSBs into four banks.
Detailed explanation-4: -After this massive amalgamation, the total number of Public Sector Banks (PSBs) in India has come down from 27 banks in 2017 to 12 in 2022, with the merger of a few banks.