The government is open to further consolidation of banks depending on needs, Minister-of-State for Finance Anurag Singh Thakur has said. Last year, the government announced the mega amalgamation of 10 public-sector-banks into four to cater to the needs of the aspirational and New India. In April 2019, Bank of Baroda in a first three-way merger exercise amalgamated Vijaya Bank and Dena Bank with itself.