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Bank unions across India protest Centre's bank merger announcement

Sunday, September 1, 2019, 12:44 PM

Union-government's decision to merge 10 public-sector-banks to create four entities has irked many bank workers who were seen staging protests in different cities. Addressing a press-conference, Finance-Minister Nirmala Sitharaman had said: "After this decision, the total number of PSBs will come down to 12 from 24 banks." Apart from this, the government announced Rs.55,250 crore upfront as a capital infusion in the PSBs.