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Finance Minister Arun Jaitley (Photo: PTI)

Centre sets up panel headed by Jaitley to oversee state banks' merger

India has 21 public sector banks, which account for more than two-thirds of the country's banking assets.

1 Nov 2017 7:09 PM IST

Former RBI governor Raghuram Rajan.

PSU bank mergers should be done after balance sheet clean up: Raghuram...

Rajan also suggested that decisions need to be made by those who understand the banking system.

12 Sept 2017 4:52 PM IST

Sitharaman passed the onus of the slowing economy on US-China trade war and currency devaluation. (Photo: ANI)

'Modi government taken landmark steps in past 100 days,' says...

Sitharaman said creating a robust infrastructure is imperative for a fast-growing economy like India.

11 Sept 2019 9:41 AM IST

The two unlisted associate banks which will be merged with SBI are State Bank of Patiala (SBP) and State Bank of Hyderabad (SBH).

Bank Union opposes Alternative Mechanism, says it may wreck banks

Union Cabinet on Wednesday said an Alternative mechanism will be set up to oversee consolidation of banks.

24 Aug 2017 6:23 PM IST

Union Minister for Finance, Defence and Corporate Affairs, Arun Jaitley briefs a press conference after a Cabinet meeting in New Delhi. (Photo: AP)

Cabinet clears 'Alternative Mechanism' to oversee bank mergers

The decision to set up the AM follows SBI merging its five associate banks, as also the Bharatiya Mahila Bank, with...

23 Aug 2017 7:09 PM IST

All unions under the aegis of UFBU have threatened to go on strike against the governments proposed consolidation move on Tuesday. Photo: Representational/PTI

Banks threaten to go on strike on Tuesday, services may suffer

All unions have threatened to go on strike against government's proposed consolidation move besides raising other...

20 Aug 2017 4:47 PM IST

The Enforcement Directorate has carried out massive raids in 50 branches of 10 banks across the nation. (Photo: PTI/Representational)

Consolidation of PSU banks to be initiated post Q1 results

Factors like regional balance, geographical reach, financial burden and smooth transition have to be considered before...

9 Aug 2017 7:01 PM IST

The agency had retained its negative outlook on mid-sized and smaller PSBs with weak capitalisation.

Government pushes PSBs to explore acquisition of smaller banks

Large PSBs like Punjab National Bank, Bank of Baroda, Canara Bank and Bank of India could look for potential candidates...

18 Jun 2017 1:05 PM IST