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Government Forms Panel to Monitor Banks’ Merger

November 02, 2017

Government Forms Panel to Monitor Banks’ Merger

This Monday, the government formed a panel under the governance of Finance Minister Arun Jaitley to oversee the consolidation developments in the public sector banking space. Among the ministers of the panel, are the railway and coal minister Piyush Goyal, and defense minister Nirmala Sitharaman.

Official sources said that the way public sector banks are managing, their stressed assets will play an important role in the decision-making part of the consolidation process. However, the government has announced that it wants no job losses because of the mergers.

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