According to an activist named Chandrasekhar Gaud, the person filed an RTI and realised that about 2118 branches of the ten public sector banks have either closed down or have merged in the last financial year. It has also been mentioned that qq83 branches of the bank of Baroda have been closed or merged according to the RTI query made by him. On the other side of the coin, there is the reason behind first reducing and then improving and working upon the loopholes of the banking sector, which has been undergoing for so much long number of years.
There are few reasons for which the merger is being implemented, and if the results are not as per then, then efforts will go in vain. For example, the coalition is done in favour of scaling up the operation to a mass level and gaining new customers. This is the primary and merges foremost reason for doing the merger, but to many extents, it has not been fruitful and fruitful for some time. As the competition is more in providing the home loan, gold loan, and other types of loan and for which there will performance-based system which ill offer adds to the benefits of the employees.
Forgiving services and handling many customers for the manual processing of the home loan documents, personal loan documents and other types of paper or else following the same in the online form will make it the best. Still, things didn’t happen quickly to add and boost up the banking infrastructure. On the other side of the coin, it is also said that bringing down the number of banks has also reduced the opportunity to have many jobs.
There are many pros and cons of many things which need to be handled properly, such as bringing some reforms and changes in the home loan eligibility and the other loan eligibility to make it easier than before.
The interest rates of the loans, such as that of the personal loan, home loan interest rate and other types of fixed deposits, needs to be appropriately maintained and adjusted to maintain a perfect balance.