10 PSBs amalgamated into 4 entities

New Delhi, Aug 30 (IANS) In a major reform measure, the Central government on Friday amalgamated 10 public sector banks (PSBs) into four entities.

According to Finanace Minister Nirmala Sitharaman, Orient Bank of Commerce and United Bank of India will be merged with Punjab National Bank.

After the amalgamation, only 12 PSBs will be left in India from the 27 earlier.

--IANS

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