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FM Arun Jaitley Assures of no Job Loss due to Merger of Banks
January 08, 2019
Putting the concerns of the bankers to an end, Finance Minister Arun Jaitley said that there won’t be any loss of jobs due to the amalgamation of the public sector banks (PSBs). This announcement comes a week after the government approved the merger of Dena Bank and Vijaya Bank with Bank of Baroda.
Jaitley said that the merger will help create a bigger financial institution of the likes of the State Bank of India which is currently the largest PSB in India. He said that it will lower the cost of lending as well.
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