 "Panel moots merger of UP co-operative banks to create Rs 35,000 cr entity")
Amid the ongoing process of consolidation in the domestic public sector banking space, an expert panel has suggested the creation of a single state controlled lender in Uttar Pradesh by merging all the co-operative sector banks in the state.
The proposed UP Co-operative Bank, created after the merger, will comprise more than 1,000 branches with a balance sheet of nearly Rs 35,000 crore, which could even grow to more than Rs 50,000 crore in the next five years with a moderate growth rate of 8 per cent.
Earlier the Adityanath government had formed an expert committee to make recommendations in
