A merger of 10 public sector banks to come into effect from today: 10 points

After the merger, there will be 12 open segment banks
It was broadly conjectured that the govt may concede the solidification practice for quite a while due to COVID-19
Ten Public Sector Undertaking (PSU) banks will be amalgamated into four banks from today, 1 April. In the greatest union exercise in the financial space, the administration in August 2019 had declared the merger of 10 open part moneylenders into four greater and more grounded banks. With this, the number of open segment banks in India will boil down to 12 from 27 of every 2017. It was generally guessed that the administration may concede the solidification practice for quite a while because of the novel coronavirus pandemic that has affected our economy.