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Paper Title: INDIAN BANKING REFORMS TWORDS $5 TRILLION ECONOMY
Authors Name: Dr. Udhister Nagar
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IJRTI_183533
Published Paper Id: IJRTI2208027
Published In: Volume 7 Issue 8, August-2022
DOI:
Abstract: Indian banking sector is treated as the backbone of economy. In another round of boosters for the Indian economy amalgamated ten public sector banks into four public sector banks. After this, the total number of public sector banks (PSBs) in India comes down to 12 banks in July 2022. Apart from this the central government announced Rs 55,250 crores upfront capital infusion in the public sector banks. And now 8 public sector banks (PSBs) have launched repo-rate linked loans in India. New special agencies formed by central government to monitor loans above Rs 250 crores to avoid fraud. This comes a series of measures to boost the Indian economy. In big banks merger, Punjab National Bank, Oriental Bank of Commerce and United Bank merged, Punjab National Bank (PNB) will be the anchor Bank. Canara Bank and Syndicate Bank merged, Canara Bank will be the anchor Bank, Union Bank of India, Andhra Bank and Corporation Bank merged, Union Bank of India (UBI) will be the anchor Bank, Indian Bank and Allahabad Bank merged, Indian Bank will be the anchor Bank. The new merged Punjab national bank will be the second largest Public Sector Bank (PSB) in the country with Rs 18 lakh crores business and second largest branch network in India. The new merged Canara Bank will also to become the fourth largest PSB with Rs 15.2 lakh crores business and third largest branch network in India. The new merged Union Bank of India will create India's fifth largest Public sector bank with Rs 14.6 lakh crores business and fourth largest branch network. The new merged Indian Bank will be seventh largest with Rs 8.08 lakh crores business. Big banks enhanced capacity to increase credit and bigger risk appetite with national presence and global reach and to create big next generation bank. The paper focuses on the banking reforms and analysis in banking system for Indian economy.
Keywords: Public Sector Bank (PSB), Banking Reforms, Indian Economy, NBFC, MSMEs, merger
Cite Article: "INDIAN BANKING REFORMS TWORDS $5 TRILLION ECONOMY", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.7, Issue 8, page no.153 - 156, August-2022, Available :http://www.ijrti.org/papers/IJRTI2208027.pdf
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ISSN: 2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publication Details: Published Paper ID: IJRTI2208027
Registration ID:183533
Published In: Volume 7 Issue 8, August-2022
DOI (Digital Object Identifier):
Page No: 153 - 156
Country: Jaipur, Rajasthan, India
Research Area: Commerce
Publisher : IJ Publication
Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2208027
Published Paper PDF: https://www.ijrti.org/papers/IJRTI2208027
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED, Journal Starting Year (ESTD) : 2016

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