Some 2118 branches of 10 public sector banks have either been closed or merged with other banks in the last fiscal, according to an RTI reply. The largest number of branches closed or merged are that of Bank of Baroda -1283. In contrast, Bank of India and UCO Bank did not close any branches in the last financial year. The number of public sector banks in the country has now been consolidated at 12. The mergers have been criticised by bank unions and the All-India Bank Employees Association general secretary C.H. Venkatachalam said a reduction in the number of the public sector banks was not in the interest of the banking industry and domestic economy. He said there was a need to expand the branches of the banks to cater to the vast population in the country.
