Ten banks involved in the merger are understood to be in advanced stages of due diligence with just over three months left to complete the process of consolidation of PSBs. This was announced by finance minister in September. PNB, Union Bank of India, Canara Bank and Indian Bank will acquire six smaller nationalised banks. Given the amount of the additional provisioning burden that the merger process may entail, it is expected that the upcoming Budget may provide for another round of recapitalization.
Readers' Choice
Gujarat: Around a dozen IPS officers reshuffled
ED arrests Anil Tuteja in Chhattisgarh liquor scam case
IPS officer writes to “Sarkar” seeking “Car” at par; flags a discriminatory regime
Gujarat: A major reshuffle of IPS enacted
Ex IAS officer joins BJP; to be fielded against Harsimrat Badal
Merger process of ten banks in advance stage
By IndianMandarins - 2019-12-17 13:14:00
Ten banks involved in the merger are understood to be in advanced stages of due diligence with just over three months left to complete the process of consolidation of PSBs. This was announced by finance minister in September.
PNB, Union Bank of India, Canara Bank and Indian Bank will acquire six smaller nationalised banks. Given the amount of the additional provisioning burden that the merger process may entail, it is expected that the upcoming Budget may provide for another round of recapitalization.
