This move increased the presence of nationalised banks in India, with 84% of the total branches coming under government control.
A year later, in March, 1992, the combined total of branches held by public sector banks was 60,646 across India, and deposits accounted for ₹1,10,000 crore.
On 30 August 2019, Minister of Finance Nirmala Sitharaman announced the government's plan for further consolidation of public sector banks.
[8] Currently there are 12 Nationalised Banks in India (Government Shareholding power is denoted in %, as of 30 September 2024[update]):
Presently there are 43 Regional Rural Banks in India Since 1 April 2020.