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Merger of 10 public sector banks: Cloud hangs over April 1 deadline

PM wants to review outcome of BoB amalgamation before taking a final call Six months after announcing its plan to merge 10 public sector banks (PSBs) into four, the Union government is now treading cautiously even though the deadline to merge the balance sheets of these lenders is just one and a half months away.…

Merger of 10 public sector banks: Cloud hangs over April 1 deadline

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Merger of 10 public sector banks: Cloud hangs over April 1 deadline

PM wants to review outcome of BoB amalgamation before taking a final call

Six months after announcing its plan to merge 10 public sector banks (PSBs) into four, the Union government is now treading cautiously even though the deadline to merge the balance sheets of these lenders is just one and a half months away.

A senior government official said Prime Minister Narendra Modi wanted to see the “outcome of the amalgamation of Bank of Baroda (BoB)” before taking a final call on the merger of the 10 PSBs. “He wants to review the outcome of the BoB merger and know in detail what benefits it has entailed. This is the latest position on …

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First Published: Sat, February 15 2020. 01:31 IST

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