 "Merger")
The announcement to amalgamate three public sector banks comes as a surprise and one hopes that such a decision has been taken cautiously. As per the report, the amalgamation is set to take place within the next few months post the parliamentary panel’s approval. It needs to be seen how quickly such a decision will be implemented as the government is left with just one or two parliament sessions before the next general elections.
The amalgamation has been attributed to curbing mounting NPA mess, weak lending scenario and in a bid to aid banks covered under the prompt corrective action. However,
