2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The government has approved a scheme for the amalgamation of ____ state-owned banks into 4?
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7
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8
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9
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10
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Explanation:
Detailed explanation-1: -Government of India (GoI) has consolidated 10 Public Sector Banks into 4 banks. The announcement of this mega-merger was made by Union Finance Minister Nirmala Sitharaman in 2019.
Detailed explanation-2: -After the massive merger, the total number of Public Sector Banks (PSBs) in India has come down from 27 banks in 2017 to 12 in 2021.
Detailed explanation-3: -A banking merger happens when two or more banks pool their assets and liabilities to come together under a single charter. Typically, the merged entity will retain the name of the bank, taking over the others.
There is 1 question to complete.