India Plans to Consolidate State-Run Banks in Next Phase of Mergers, Aiming to Create Lenders of Global Proportions

India Plans to Consolidate State-Run Banks in Next Phase of Mergers, Aiming to Create Lenders of Global Proportions

The Government of India is preparing for the next round of consolidation of public sector banks (PSU banks) with the goal of creating large, globally competitive lenders. The aim is to support India’s long-term economic ambitions and achieve the vision of a...
Among the prominent banks are SBI, HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra, and Bank of Baroda.

Among the prominent banks are SBI, HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra, and Bank of Baroda.

Several major Indian banks have announced changes to their fixed deposit (FD) interest rates, affecting customers who invest in these instruments. The changes vary by bank and tenure, but overall, they offer returns ranging from 5.9% to 6.95% for different terms....