Let me present a brief overview of the policy and processes involved in each type of merger. (a)  Voluntary amalgamation between private sector banks  7. As regards the statutory provisions, the procedure for voluntary amalgamation of two banking companies is laid down under Section 44-A of the Banking Regulation Act, 1949 (the Act), which is easy to follow and cost effective.
Furthermore, public guarantees were extended to bank loans to ensure that companies could attain credit. Supervisors used the flexibility built into the legislative framework and relaxed the available capital buffers, further enabling banks to keep lending. And these are just some of the examples of how the public sector has supported the economy amid COVID-19.