On The Last Word with Kavita Krishnan, Finance Minister Nirmala Sitharaman in a press conference announced the merger of 10 public sector banks (PSBs) into four large entities. After this amalgamation, only 12 public sector banks will be left in the country from the 27 earlier. Apart from this, the government announced Rs 55,250 crore as a capital infusion in the PSBs.The government announced four massive bank mergers today. Is this the formula for India to reach $5 trillion economy target?
How long will it take for the three banks to start functioning as one bank?

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