GOI’s Mega Bank Consolidation to come into effect from 1st April 2020

Mega Bank Consolidation

The government of India’s (GOI) ambitious Mega Bank Consolidation plan is on schedule. Under this plan, the government is to consolidate 27 Public Sector Banks (PSBs) into 7 large ticket PSBs and 5 smaller tickets PSBs. Post consolidation of banks, the seven large tickets PSBs will have business of Rs. 8 lakh crore each and will have scale comparable to global banks. The consolidated banks will be better equipped to compete with global banks, both in domestic as well as international markets. Consolidated PSBs will have a larger lending capacity…

Read More