Finance Minister Arun Jaitley today said in the Lok Sabha that there would be no loss of jobs due to merger of public sector banks.the Cabinet approved merger of Vijaya Bank and Dena Bank with Bank of Baroda.Jaitley said there would be no job losses due to merger of the banks and that the move would create a bigger entity like SBI. The cost of lending could also become cheaper, he added.

During the question hour, the minister said out of the 21 public sector banks, 11 are under PCA framework. PCA is initiated against banks that have high levels of non-performing assets.

Replying to a supplementary question, Jaitley said the curve of non-performing assets would go down and that the Insolvency and Bankruptcy Code has helped in bringing back around Rs 3 lakh crore into the system.