M&A of state banks to be a key theme at Gyan Sangam

Prime Minister Narendra Modi, Finance Minister Arun Jaitley and Reserve Bank Governor Raghuram Rajan will take part in a two-day retreat for public sector banks (PSBs) in Pune, starting Friday. Chairman and managing directors of all these banks will take part in the discussions. Mergers and acquisitions will be a major theme at the first-of-its-kind retreat of bankers and insurers.

Modi, Jaitley and Rajan will join the deliberations on the second day. RBI board member Nachiket Mor, ICICI Bank Chairman K V Kamat, former chairman of Axis Bank P J Nayak will be among those chairing discussions at the retreat, Gyan Sangam. Consolidation in PSBs, universal financial inclusion, leveraging technology to improve banking operations efficiency and rethinking priority sector lending, among others, will be discussed. Prime Minister Modi will interact and address the gathering.