Merger of PSBs haven't impacted financial inclusion adversely: RBI

Preserving financial system stability an overriding objective for regulators says deputy governor Rajeshwar Rao

Photo: Bloomberg
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Photo: Bloomberg

BS Reporter Mumbai
The consolidation of public sector banks has not impacted spread of financial inclusion as the total number of bank branches remained almost the same, M Rajeshwar Rao, deputy governor of Reserve Bank of India said on Friday.

In the last few years, the number of public sector banks has fallen to 12 from 27, between March 2017 and now, due to the government's decision to consolidate the lenders.

The number of private sector banks has remained constant at 21 during the same period.

“The consolidation of public sector banks does not seem to have had any negative impact on their

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First Published: Oct 21 2022 | 11:43 PM IST

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