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Finance ministry looks to consolidate overseas operations of PSU banks

Indian banking system has come under renewed scrutiny after a recent $2 billion fraud in Punjab National Bank

Reuters  |  MUMBAI 

PNB 114 billion scam: Govt weighs bank recapitalisation hike
Punjab National Bank

India's government will consolidate 35 overseas branches of state-run lenders, with 69 more under review, said in a tweet on Thursday.

The government will also examine and shut down all non-viable offshore operations of to cut costs, he said in the tweet, adding the government will also consolidate equity stakes in joint ventures having multiple state-run

Indian banking system has come under renewed scrutiny after a recent $2 billion fraud in Punjab National Bank, the country's second biggest
 

 

First Published: Thu, March 01 2018. 16:26 IST
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