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NITI Aayog Working on PSBs Merger Road Map, May Announce in a Month
June 15, 2017
According to a senior government official, NITI Aayog is devising the strategy for the PSBs consolidation as asked by the finance ministry. Once it’s finalised several small banks will be merged to form a giant global size financial institution. He also said that the government think-tank is likely to release a report on the project within a month.
The finance ministry is also working on the merger on its part, as it’s bringing in several consultancy firms from around the world for support. In the end, however, the ministry will take the final call at its discretion, although after consultation with RBI.
