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Bravo FM, but it's only half the job done

The government can have its cake and eat it too if it allows mega banks to run independently and turn others into vehicles for social banking

Topics
Banks | Bank mergers | Finance minister

Tamal Bandyopadhyay 

Tamal Bandyopadhyay

The seminal recommendation of a committee on banking sector reforms made in April 1998 is finally being implemented. Ten public sector banks (PSBs) are being merged to form four.

This is after Bharatiya Mahila Bank and a few associate banks of the State Bank of India (SBI) got merged with the nation’s largest lender and Vijaya Bank and Dena Bank have been amalgamated with Bank of Baroda (BoB). India will now have fewer government-owned banks but those remaining will be larger and stronger. The scale will make them efficient, help them expand credit, introduce new products, bring ...

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First Published: Sun, September 08 2019. 21:21 IST
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