No reason to go back on govt's mega-merger plan for state-owned banks: FM

On August 30 last year, Sitharaman had announced the biggest merger exercise of PSBs

Finance Minister Nirmala Sitharaman said on Saturday that she saw no reason to go back on the government’s mega merger plan for state-owned banks.

“I don’t see any reason to go back or any reason (which is) particularly causing any delay in the notification. You will hear on it as and when a decision is made,” Sitharaman told the media here. She was responding to a question on the reasons behind a delay in the process of amalgamating 10 public sector banks (PSBs) into four.

She added that there was no discussion on the amalgamation of banks in the RBI’s