The finance ministry on Monday said there is no proposal at present to merge or consolidate public sector banks, even as it noted that past amalgamations have helped create larger, more competitive lenders with improved efficiency and scale. Bank of Baroda, into which Vijaya Bank and Dena Bank were merged, expanded from ₹16.1 trillion in March 2019 to ₹27.0 trillion in March 2025. Union Bank of India, which absorbed Andhra Bank and Corporation Bank grew from ₹15.3 trillion in March 2020 to ₹22.9 trillion in March 2025. Canara Bank, which merged with Syndicate Bank expanded from ₹15.7 trillion in March 2020 to ₹25.3 trillion in March 2025. Indian Bank, which amalgamated Allahabad Bank grew from ₹8.6 trillion in March 2020 to ₹13.3 trillion in March 2025.

Source: Mint March 23, 2026 11:37 UTC