3,400 Branches Of 26 Government Banks Have Been Shut Down Since The Last Five Years: RTI

Notably, out of all these bank branches, over 75 per cent have been State Bank of India (SBI) bank branches. SBI is the biggest public sector bank in the country.

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According to a recent Right To Information (RTI), in the last five years, more than 3,400 branches of 26 government banks have been shut down. The Reserve Bank of India (RBI) had stated in a recent RTI that was filed by RTI activist Chandrashekhar Gaud. 

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The reason for the closure of these banks has primarily been merging it with other banks. Notably, out of all these bank branches, over 75 per cent have been State Bank of India (SBI) bank branches. SBI is the biggest public sector bank in the country. It is a government corporation statutory body headquartered in Mumbai. SBI is ranked as 236th in the Fortune Global 500 list of the world's biggest corporations of 2019

According to the reply from RBI, 90 branches in Financial Year (FY) 2014-15, 126 branches in FY 2015-16, 253 branches in 2016-17, 2,083 branches in 2017-18 and 875 branches in 2018-19 have been shut down. 

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