The central government is going to the merger of another bank, enthused by the success of the merger of State Bank of India. According to the report, the government is planning to merge the Bank of Baroda, IDBI Bank, Oriental Bank and Central Bank. These banks had to bear losses of Rs 21,646.38 crore till the financial year ended.
Let us tell you that on April 1, 2017, the government merged five SBI associate banks and Indian Women's Bank with State Bank of India. By doing so, the government's intention was to include SBI in 50 top banks of the world. Even if the new plan of the government proves to be effective, So the country will get the country's second-largest bank after SBI with an asset of 16.58 trillion rupees.
To get rid of the issue of the loan, the government is working towards making big banks. In the last three years, banks have been facing big shocks for loans, When the demand for new loans is declining.
This has resulted in a huge increase in the bad loan pertaining to the total loan. The total bad loan figure has crossed 10 lakh crore and in these, 8.9 lakh crore shares belong to the public sector banks.
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