BIG BANK MERGER: 10 public sector banks turn into 4. Key points bank customers must know

Despite nation-wide lockdown due to coronavirus announced by the Government, ten Public Sector Undertaking (PSU) banks will be merged into four banks from today, 1 April 2020. As novel coronavirus pandemic has impacted our economy, there was a dilemma on the postponement of the bank merger, however, the Reserve Bank of India cleared the air that the merger will still take place on the set date i.e. April 1, 2020.

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