India's GDP slows to 5 per cent in April-June

India’s economic growth slows to 5% in April-June from 8% a year ago. 
GDP at Constant (2011-12) Prices in Q1 of 2019-20 is estimated at 35.85 lakh crore, as against 34.14 lakh crore in Q1 of 2018-19, showing a growth rate of 5.0 %.
In a major reform measure, the Central government on Friday announced the merger of 10 public sector banks into four entities, bringing down the total number of PSBs to 12 from 27 in 2017.  According to Finance Minister Nirmala Sitharaman, Punjab National Bank, Oriental Bank of Commerce and United Bank will be merged to become the second largest PSB in India