Government sets up Arun Jaitley led panel on PSU bank mergers
PrintListen to this Article
0:00
0:00
The government has constituted a ministerial panel headed by Finance Minister Arun Jaitley to oversee merger proposals of state-owned banks.
The other members of the panel include Railway and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman.
In a tweet, Financial Services Secretary Rajiv Kumar said that the government is working on banking reforms and constituted an Alternative Mechanism for Public Sector Banks, PSB consolidation.
Last week, Mr Jaitley had announced 2.11 lakh crore rupees capital infusion roadmap for the public sector banks. The Union Cabinet 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 Indian economy and building capacity in
the PSB space to raise resources without dependence on the state exchequer.
The mechanism will oversee the proposals coming from boards of PSBs for consolidation. #casansaar (Source - PIB)
The other members of the panel include Railway and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman.
In a tweet, Financial Services Secretary Rajiv Kumar said that the government is working on banking reforms and constituted an Alternative Mechanism for Public Sector Banks, PSB consolidation.
Last week, Mr Jaitley had announced 2.11 lakh crore rupees capital infusion roadmap for the public sector banks. The Union Cabinet 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 Indian economy and building capacity in
the PSB space to raise resources without dependence on the state exchequer.
The mechanism will oversee the proposals coming from boards of PSBs for consolidation. #casansaar (Source - PIB)
Category : Banking | Comments : 0 | Hits : 685
The Financial Intelligence Unit-India (FIU-IND), in furtherance of the powers conferred upon the Director FIU-IND under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002, has imp...
The government on Monday informed the Lok Sabha that all Scheduled Commercial Banks have written off nearly Rs 10.6 lakh crore in the last 5 years, out of which nearly 50 per cent belong to large indu...
The government has cleared the extension of tenure of managing directors of two public sector lenders -- Bank of Maharashtra (BoM) and Central Bank of India. According to sources, Appointments Co...
Comments