Union Home Minister Amit Shah on Friday lauded Prime Narendra Modi and Finance Minister Nirmala Sitharaman after the latter announced the merger of 10 Public Sector Banks (PSBs) into four strong lenders with countrywide networks and global reach to boost credit and revive economic growth."The merger of PSBs will unlock new potential. Big banks with their national presence and global reach will have larger credit appetite and ability to measure risk. I congratulate PM Narendra Modi and Finance Minister Nirmala Sitharaman for this much-needed step towards strengthening our banking sector," Shah tweeted.Addressing a press conference earlier in the day, Sitharaman had said: "After this decision, the total number of PSBs will come down to 12 from 24 banks."Apart from this, the government announced Rs 55,250 crore upfront as capital infusion in the PSBs."In 2017, where there were 27 PSBs. There are now only 12 PSBs operating to target the 5 trillion dollar economy," she said.Sitharaman said
