PSB Merger Reshuffle in progress

The government is preparing the next phase of PSU bank mergers, reducing the number from 12 to 8 by FY27. Proposed pairings include: Indian Overseas Bank with SBI, Central Bank of India with PNB, Bank of India with BoB, and Bank of Maharashtra with BoB. This follows the 2019 mergers that cut NPAs by 70% and boosted profits 5x. Unions express concerns over job losses and branch closures, but officials emphasize efficiency gains.