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Friday, 5 February 2021

# Will the 51 year old decision be broken? #

# Will the 51 year old decision be broken? #


There were 27 state-owned banks in the country by 2017. In 2014, Narendra Modi became the Prime Minister for the first time. This is his second term and the government is moving fast towards privatization of banks. As of 2017, there were a total of 27 government banks in the country. 

In 2017, for the first time, five associate banks and Bharatiya Mahila Bank were merged into State Bank of India. In addition, Vijaya Bank and Dena Bank were merged with Bank of Baroda. This decision was taken by the Modi government in April 2017. 

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But the big question here is how successful the merger or privatization of public sector banks will be. On the one hand, Indira Gandhi nationalized the banks and opened new doors for the banking sector. 

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At the same time, the state of the banking sector in the last few years is pointing in a different direction. In 2020, after the merger of 6 banks into 4 banks, the government announced the merger of 10 banks. Under this, the existence of six banks was merged into four banks, then in the country ...

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