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Punjab National Bank and Bank of Baroda walking on the footprints of the SBI, minor mergers possible
April 24, 2017
- After the State Bank of India’s merger, the government is now looking forward to creating a roadmap for next round of consolidation if the state-run lenders.
- The roadmap will also contain public offers in the next few months by banks to raise fresh capital, and changes in the hiring policy, including increased lateral entry.
- According to the finance ministry, under this plan of the government of India, Punjab National Bank and Bank of Baroda will be taking over smaller lenders.
- The government is actively looking at candidates for consolidation with the Prime Minister’s Office keen on having a few large banks merged rather than several smaller ones.
