Search
Government Ponders Merging More PSU Banks
June 14, 2017
The government said earlier today that it is thinking about further consolidation in the public sector banking space without waiting for the lenders to improve their financial performance. Previously, it had merged Bhartiya Mahila Bank and five other associate banks of the State Bank of India in April this year.
According to Reserve Bank Governor Urjit Patel, it’s better to have fewer consolidated banks as it will make it easier to deal with the problem of Non -Performing Assets.
Finance Minister Arun Jaitley said that the government has reviewed the entire system closely and there are potential banks that might be consolidated.
