INDORE: As many as 2,118 branches of 10 public sector banks have both been closed or merged with different banks within the final fiscal, in keeping with an RTI reply.
The very best variety of 1,283 branches of Financial institution of Baroda had been both closed or merged, in keeping with info offered to an RTI question filed by Neemuch-based activist Chandrashekhar Gaud.
No department of Financial institution of India and UCO financial institution was closed within the final fiscal. The federal government consolidated ten PSU banks into 4 within the final monetary 12 months, bringing the variety of nationalised banks to 12.
All India Financial institution Staff Affiliation common secretary CH Venkatachalam stated a dip within the variety of the general public sector banks was not within the curiosity of the banking business and home financial system.
He stated there was a must increase the branches of the banks to cater to the huge inhabitants within the nation.
Bringing down the variety of financial institution branches has lowered employment alternatives within the banking sector following which the younger individuals had been pissed off, Venkatachalam added.