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PSBs Asked to Close Loss-Making National and International Branches
December 27, 2017
As a part of a capital saving exercise, the public-sector banks (PSBs) have been asked by the finance ministry to shut down their loss-making branches in India and abroad.
Following the recommendation of the finance ministry, many PSBs, including Punjab National Bank (PNB), State Bank of India (SBI), etc. have already started to take action.
PSB Indian Overseas Bank has closed 10 of its regional offices in a bid to reduce administrative costs and prevent its balance sheet from taking further damage.
