Financial conditions in the global banking system improved following monetary easing measures taken by the central banks of various economies.
The global economy grew at a slow pace in 2012. Global banks continued their effort for repairing their balance sheets and improving their capital ratios.
The government in August 2019, announced a merger of ten public sector banks to four. One of the benefits of consolidation is higher operational efficiency gains to reduce cost of lending according to the official presentation made at the time of announcing the merger.
As per the finance minister, the merger would help to manage the capital more efficiently. The amalgamation of the PSBs is based on bad loan intensity and regional factors.
Corporation Bank and Andhra Banks was merged with Union Bank of India, Syndicate Bank was merged with Canara Bank, Oriental Bank of Commerce and United Bank of India were merged with Punjab National Bank. While Allahabad Bank was merged with Indian Bank. These got operational from April 2020.
Mentioned below which might com handy in times of need: