Success of ongoing mega-mergers will determine future for these banks: experts
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The Economic Survey 2019-2020, which was tabled in Parliament by Finance Minister Nirmala Sitharaman, highlighted various aspects of weakening asset quality and returns on equity and assets for public sector banks (PSBs). Compared to large economies across the globe, the survey reveals that there is an absence of large banks in India and still low penetration of credit by banks in India.