Answer to Question #346062 in Management for radhika

Question

Banking in India has undergone systematic changes over last 5 decades permitting starting from nationalization in 1969 of 14 private sector banks again to privatization of banks in 1990s. In year 2014 small Payment Banks were set up for financial inclusion and spreading it in different nooks & corners of the country to again a diametrically opposite step of mergers and consolidation of many weak public sector banks with a few large banks in 2018/19. What are the reasons for such changes?