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Union Finance Minister Nirmala Sitharaman, while announcing mergers of public-sector banks on Friday, said it was technology that decided which bank would marry whom.
Why she said so is clear from the composition of the staff of banks, which has drastically changed. Technology matters to the customers, the human aspect matters to mostly the staff behind the counter.
In 2017-18, the number of officers in the 20 public-sector banks (including IDBI Bank, now owned by Life Insurance Corporation) exceeded that of the clerical and other staff. The number of employees in these banks stood at 581,349 in that financial year.
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