The NITI Aayog has suggested the creation of a Dak Bank — postal bank — by merging the regional rural banks.

 The NITI Aayog has suggested the over 1.5 lakh post offices in the country should be made outlets for the proposed Dak Bank according to media reports.

It is learnt that it has suggested privatisation of three banks, Punjab & Sind Bank, UCO Bank and the Bank of Maharashtra.

 India currently has 12 public sector banks, with the last merger of public sector banks which came into effect in April 2020. There were 27 public sector banks in 2017.

The Centre has decided to come up with a new Public Sector Enterprise Policy, and open up all the sectors to the private sector.