No job losses post merger of 10 PSBs: Govt

The Centre on Tuesday informed the Rajya Sabha that there will be no job losses due to merger of public sector banks.

Due to merging of 10 public sector banks into four, there will not be any job losses and interest of the employees will be protected, Minister of State for Finance Anurag Singh Thakur said during the 'Question Hour'.

While taking the decision on merging, the government kept in mind about the software 'Core Banking System' being used by them.

All these banks, which are using similar kind of software, have been merged accordingly so that there would not be any difficulty for the employees, he said.