Banks plays a crucial role in Indian economy. To strengthen the Indian banking sector Finance Minister announces the Mega merger of Public Sector Banks. This step was taken for growth, profitability and organisational restructure. The Indian banking system is evolving from a constellation of numerous small banks to a structure with a few major banks as the times change. Government took step to make a clear path to achieve a target of $ 5 trillion economy. In 2019, 10 public sector banks were consolidated into four larger entities, this was the notable example to enhance financial strength and streamline operations The purpose of this study was to determine how a merger would affect several parameters. These parameters were taken on the basis of CAMEL Model. This Model was applied to determine the changes in financial parameters resulting from the merger. The researcher has conducted an analytical investigation on the merger, utilising secondary data gathered from financial records. The study covers the period of six years i.e. 2018-2023 which three years prior to and three years following the merger. Overall, the study concludes that while mega mergers provide certain financial benefits, their impact on performance varies across different CAMEL components. These results offer valuable insights for stakeholders in the banking industry on how mergers can influence long-term financial stability and strategic planning.