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Cabinet nod for PSU banks merger

  •   Wed, Mar 04 2020 05:51:28 PM

New Delhi, March 4 (IANS): The Union Cabinet on Wednesday approved PSU bank amalgamation along with a scheme of merger submitted by the merging banks.

Finance Minister Nirmala Sitharaman said on Wednesday that the banks are fully ready for April 1 deadline for merger.

She said the core banking operations of merging banks will not get affected.

Sitharaman said the government has gone through the Bank of Baroda merger case and it is successful.

She said the merger of banks is to take effect from April 1, 2020.

 
  

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Comment on this article

  • PSu, Mangalore

    Wed, Mar 04 2020

    We won't need any banks in the future as all the corrupt politicians and businessmen will have their money stashed in the Swiss bank accounts and the common man will be pauper.

    DisAgree Agree [1] Reply Report Abuse

  • G Veer S, Nagpur

    Wed, Mar 04 2020

    Eventually there will be only one bank RBI. All other banks will cease to exist. Now in a open market economy with multinationals around merger of banks works against the system. This is 'Make-in-India' Modinomics.
    Hum Tho Doobe Ge Hi Thume Bi Le Doobe Ge ( I will anyway drown, I will take you also along with me)

    DisAgree [2] Agree [7] Reply Report Abuse


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