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This is an archive article published on August 30, 2019

‘Emerging to merging economy’: Sitharaman’s bank merger announcement triggers mixed reactions

While many questioned how the merger would affect the economy and expressed worry over the status of jobs in the country, it also prompted several memes and jokes.

Nirmala sitharaman, bank mergers, PNB, Punjab national bank, Public sector banks, oriental bank of Commerce, OBC, UCo bank, United bank, economy, Indian Express The sudden announcement by Sitharaman generated quite a buzz on social media and triggered several reactions.

Finance Minister Nirmala Sitharaman announced the merging of a number of Public Sector Banks (PSB) on Friday. With this move, 27 public sector banks will be merged into 12. Sitharaman said Oriental Bank of Commerce and United Bank would be merged with New Delhi-based Punjab National Bank to create India’s second-largest lender after State Bank of India.

The sudden announcement by Sitharaman generated quite a buzz on social media and triggered several reactions. While many questioned how the merger would affect the economy and expressed worry over the status of jobs in the country, it also prompted many memes and jokes on Twitter.

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