No Merger of PSU Banks Under Consideration: MoS Finance Pankaj Chaudhary

• Minister of State for Finance Pankaj Chaudhary stated that there is currently no proposal for the merger or consolidation of public sector banks (PSBs) under government consideration.
• Previous PSB amalgamations led to stronger, more competitive banks with increased customer base, market reach, and operational efficiency.
• Amalgamated banks like Bank of Baroda, Punjab National Bank, Union Bank of India, Canara Bank, and Indian Bank showed significant business growth post-merger.
• The EASE 9.0 Reforms Agenda for FY2026-27 was launched to build globally competitive PSBs for Viksit Bharat by 2047, focusing on risk, innovation, socio-economic impact, and excellence.
• The value of the rupee is market-determined, with RBI intervening to manage excess volatility; various domestic and global factors influence its exchange rate.