About a week ago the finance minister, Nirmala Sitharaman announced the consolidation of 10 public sector banks into four mega state-owned ones. Retail customers including account holders of amalgamating banks are likely to get affected.
Tag: consolidation
The Union Government is planning for Merger/Consolidation of PSU General Insurance Co.
PNB may take control of 2-3 small state-run banks. The government is seeking to consolidate the nation’s debt-burdened state banking sector.
Recruitment for bank jobs will be hit badly due to the proposed consolidation of public sector banks (PSBs), and a few banks have already put their fresh hiring plans on hold.
Number of PSBs may go down to 12 as govt mulls consolidation . The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12.