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Finance Ministry Says “Open to Providing Capital” to Help Stressed Banks with Merger
August 31, 2017
Official sources have confirmed that the government is willing to provide capital for facilitating the consolidation process to the state-owned banks who are already struggling with bad loans.
The setting up of alternative mechanism or a panel of ministers that can discuss and approve the merger proposals for the bank has already been given a green flag by the Union cabinet.
According to the sources, the finance ministry has made it clear that if the merger panel finds a good match for the merger then additional capital can be provided to acquire the bank if necessary.
