Bank mergers to come into effect from April 1, says Sitharaman

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Finance Minister Nirmala Sitharaman on Wednesday said the exercise of consolidation of 10 public sector banks (PSBs) into four is on course and the merger will come into effect from April 1, 2020.

The Union Cabinet, she said, has given a go-ahead for the merger proposal and the government has been in regular touch with these banks.

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