PSB Reforms

In this podcast, Business Standard's Subhomoy Bhattacharjee explains why the Centre again discussing the topic of government owned bank privatisation and more

The merged public sector banks will ensure that there is no disruption to credit flow and customer experience is enhanced, the finance ministry said on Thursday. Ten public sector banks are to be merged into four from April 1. The finance minister is holding meetings with the lenders to review their preparedness. Finance Minister Nirmala Sitharaman on Thursday held meetings with chief executives of these banks, including Andhra Bank, Corporation Bank and Union Bank of India. "Amalgamating PSBs made a presentation to Hon. FM @nsitharaman on their preparedness. Amalgamated PSBs to ensure no disruption to Credit & enhanced customer experience," the Department of Financial Services said in a tweet. The Union Cabinet had last week approved the mega bank consolidation plan under which Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank; Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into .

Banks may report higher NPAs on account of DHFL, Coffee Day Enterprises, Cox & Kings, and possibly Vodafone Idea in the coming quarters

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders

Oriental Bank of Commerce, Central Bank of India, Syndicate Bank and Allahabad Bank were up in the range of 3 per cent to 6 per cent on the NSE.

The massive bad loans reflect a breakdown of basic banking