10 Public Sector Banks to be merged into four - PSU Banks Merger India 2019
1. Indian Government to create next-generation banks with a strong national presence, & enhanced risk appetite through mergers. Public sector banks enabled to do succession planning.
2. 10 Public Sector Banks to be merged into four.

3. A number of Public Sector Banks to come down to 12 from 27.
4. PNB, OBC and United Bank to be merged. The newly merged bank will be the second-largest PSB in the country with Rs 18 lakh crore business and second-largest branch network in India.

5. Canara and Syndicate Bank will also be merged to become the fourth largest PSB with Rs 15.2 lakh crore business and third largest branch network in India.

6. Union Bank of India, Andhra Bank, and Corporation Bank will be merged to create India's fifth-largest PSB with Rs 14.6 lakh crore business and fourth largest branch network.

7. Indian Bank and Allahabad Bank merged. The new bank will be seventh-largest with Rs 8.08 lakh crore business.

8. Government has announced Rs 55,250 crore upfront capital for credit growth & regulatory compliance to support economy.
9. PNB will get Rs 16,000 crore; Union Bank Rs 11,700 crore; Canara Bank Rs 6,500 crore; Indian Overseas Bank Rs 3,800 crore; Central Bank of India Rs 3,300 crore; Bank of Baroda Rs 7,000 crore; Indian Bank Rs 2,500 crore and Uco Bank Rs 2,100 crore.
10. Big banks with enhanced capacity to increase credit and bigger risk appetite, with a national presence and global reach.  PSB boards empowered.

11. Bank boards have been given the flexibility to fix the sitting fee of independent directors. Non-official directors to perform role analogous to independent directors.

12. Government's intention not just to give capital but also give good governance.

13. No retrenchment has taken place post-merger of Bank of Baroda, Dena Bank, and Vijaya Bank; staff has been redeployed and best practices in each bank have been replicated in others.
14. 8 PSU banks have so far launched repo rate-linked loans.
15. Loan tracking mechanism in PSU banks is being improved for the benefit of customers
16. 4 NBFCs have found liquidity support through PSU banks since last Friday
17. For NBFCs, partial credit guarantee mechanism has already been implemented
18. Govt working on banking reforms
19. Gross NPAs of PSU banks have come down
20. Provision coverage ratio highest in 7 years
21. Best practices of each bank in the consolidation of Vijaya Bank, Bank of Baroda and Dena Bank has been absorbed
22. Non-official directors to perform role analogous to independent directors
23. Bank of India, Central Bank of India will continue as public sector banks
24. To make management accountable to the board, board committee of nationalized banks to appraise the performance of the general manager and above including managing director," Sitharaman said.
25. Post consolidation, boards will be given the flexibility to introduce chief general manager level as per business needs. They will also recruit chief risk officer at market-linked compensation to attract the best talent.

Which 12-State Run Bank will remain after merger announcement was made on August 30, 2019? India will have 12 Stare Run Bank in comparison to 27 banks in 2017, following the announcement to manage ten banks into four.