03 Nov 2025 | 5 Mins Read
PSU banks surge up to 3% on merger and privatisation talk
Flipitmoney
Indian public sector banks surged up to 3% on Monday due to a new plan to merge certain lenders and privatize smaller ones. The government may merge Union Bank and Bank of India, forming the second-largest state-owned bank after SBI. PSU banks could also see a merger of Indian Overseas Bank and Indian Bank, and privatization of Punjab & Sind Bank and Bank of Maharashtra.