Public Sector Bank Merger: Will look into strengthening the Indian Bank.

 

Public Sector Bank Merger: In the Budget, Sitharaman proposed setting up a 'High-Level Committee on Banking for a Vibrant India' to comprehensively review India's banking sector and align it with the country's growth goals while safeguarding financial stability, inclusion and consumer protection.

Commenting on the banking sector, Reserve Bank of India Governor Sanjay Malhotra said that banks are adequately capitalised and can sustain credit growth for the next 4-5 years.

PSB Merger: The news of merger of public sector banks (PSBs) has once again come to the fore. According to a news report by the Press Trust of India, Finance Minister Nirmala Sitharaman said on Monday, February 23, that the government does not have any roadmap for merger of state-run banks.

 "Bank consolidation has not been a thing here, it was not a thing before the budget, but the committee that will be appointed now, once the terms of reference are given, will look into every aspect of how to strengthen the Indian Bank," he said.