Banks Consolidation
- Bank Merger: Government announced an extensive consolidation of state-owned banks that will see 10 of them being merged to form four bigger lenders to strengthen a sector struggling with a bad-loan cleanup and aimed at creating lenders of global scale that can support the economy’s surge to $5 trillion by 2024.
- Alternative Mechanism Panel: The Union Cabinet in August 2017, had decided to set up an Alternative Mechanism to fast track consolidation among public sector banks to create strong lenders. The move to create large banks aims at meeting the credit needs of the growing ....
