Modi govt announces mega merger of Public Sector Banks

Indian Bank and Allahabad Bank to merge to create 7th largest public sector bank with Rs 8.08 lakh cr business. 
Finance minister Nirmala Sitharaman on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank with business of ₹7.95 trillion to make India’s second-largest bank, a week after announcing a slew of measures to boost consumer and investment confidence.