RBI to ensure mega bank mergers non-disruptive, central bank in discussion with govt: Shaktikanta Das
5 years, 3 months ago

RBI to ensure mega bank mergers non-disruptive, central bank in discussion with govt: Shaktikanta Das

Firstpost  

The Reserve Bank of India is in discussions with the government to ensure that the mega bank merger process is carried out in a non-disruptive, governor Shatikanta Das said on Friday Mumbai: The Reserve Bank of India is in discussions with the government to ensure that the mega bank merger process is carried out in a non-disruptive, governor Shatikanta Das said on Friday. The critical issue is to ensure that the process of transition following the merger should be in the most non-disruptive manner, he said. “This is an issue which is also being discussed between the government and the RBI so as to ensure that the entire process of transition is non-disruptive,” Das said at an India Today event. The governor said the transition has to be non-disruptive in terms of credit disbursements, loan repayments, loan collections and all other functions of banking should not be affected.

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History of this topic

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
3 years, 11 months ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18  

With the Union Budget less than a week away, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross non-performing …

A final push for the entry of corporate players in banking
4 years, 1 month ago

A final push for the entry of corporate players in banking

The Hindu  

Areport of an internal working group set up by the Reserve Bank of India has revived the discussion on the wisdom of allowing the entry of corporate players, including large business groups, into India’s banking space. Although the process of licensing a new generation of private banks began in 1993, primarily non-financial corporate entities have been eligible under the RBI’s …

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
4 years, 9 months ago

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

Firstpost  

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday New Delhi: The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday. …

Maharashtra Co-op Bank pitches for branch merger of PMC Bank
4 years, 11 months ago

Maharashtra Co-op Bank pitches for branch merger of PMC Bank

India TV News  

Maharashtra State Co-operative Bank has written to Union Finance Minister Nirmala Sitharaman seeking merger of branches of PMC Bank, in case of a takeover of the troubled lender, a top official said on Tuesday. In support of his argument, Anaskar reminisced over six years ago, there was a similar proposal for a branch merger of the troubled Rupee Cooperative bank …

Over 3,400 branches of 26 public sector banks closed or merged in last 5 years: RTI
5 years, 2 months ago

Over 3,400 branches of 26 public sector banks closed or merged in last 5 years: RTI

Firstpost  

Over 3,400 branches of 26 public sector banks have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query Indore: Over 3,400 branches of 26 public sector banks have been either closed or merged during the last five financial years due to merger under …

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
5 years, 3 months ago

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April

Firstpost  

The complete harmonisation among the three entities would take another 12 to 14 months after the merger Kolkata: A total of 34 functional teams have been formed to smoothen the process of merger of United Bank of India, Punjab National Bank and Oriental Bank of Commerce, a senior official said. “The functional teams will also try standardising the loan process, …

No concern to asset quality post UBI, OBC merger: PNB CEO
5 years, 3 months ago

No concern to asset quality post UBI, OBC merger: PNB CEO

India TV News  

The Punjab National Bank, which is the anchor bank for a scheduled merger with the United Bank of India and the Oriental Bank of Commerce, has said that it does not see any erosion in asset quality after the merger and the best HR, process and products will be chosen for the consolidated entity to offer a win-win situation for …

Nirmala Sitharaman to review bank merger preparedness amid strike call on Sept 26-27
5 years, 3 months ago

Nirmala Sitharaman to review bank merger preparedness amid strike call on Sept 26-27

India TV News  

Finance Minister Nirmala Sitharaman will conduct a meeting of the heads of PSU banks on Thursday to discuss bank merger-related issues. "Tomorrow's PSB meeting will take up some of the key issues which relate to passing of low cost of borrowing and NPA settlement, doorstep banking and also the merger execution strategies to be taken up by the merging and …

Mega bank mergers in India credit positive but...: Here is global rating agency Moody's take
5 years, 4 months ago

Mega bank mergers in India credit positive but...: Here is global rating agency Moody's take

India TV News  

The mega merger of 10 state-run banks is credit positive, as it can increase their operational scale and growth capital, apart from improving their corporate governance over the long term, says a report. Global rating agency Moody's in a report Thursday said the proposed mergers will significantly alter the structure of state-run banks which control over two-thirds of the system. …

Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?
5 years, 4 months ago

Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?

Firstpost  

For better understanding, let’s look at the share movement of the acquiring banks or the anchor banks involved in the merger process. In the two trading sessions after the big bank merger announcement, the public sector banks have lost a combined market cap of close to Rs 11,000 crore. Among others, United of Bank of India has a net NPA …

Watch | Merger of public sector banks
5 years, 4 months ago

Watch | Merger of public sector banks

The Hindu  

In what comes as the second wave of the government’s efforts to revive the economy, Finance Minister Nirmala Sitharaman on Friday announced a slew of banking reform measures, including merger of 10 public sector banks into four entities. This would take the number of banks in the country from 27 in 2017 to 12, Ms. Sitharaman said. These bank mergers, …

Opinion | Bank mergers are no silver bullet for India
5 years, 4 months ago

Opinion | Bank mergers are no silver bullet for India

Live Mint  

With every passing day, India’s economic indicators are turning a little bleaker. Thus, one of the few areas where there’s new investment may be affected, especially with a sharp rise in debt levels of the government agency that gives out the contracts. State Bank of India, the largest lender, will require ₹15,000 crore in the current fiscal year, according to …

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar
5 years, 4 months ago

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar

Firstpost  

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders New Delhi: The government’s decision to consolidate 10 public sector banks into four mega state-owned lenders will act as a building block for achieving $5 trillion economy target, Finance Secretary Rajiv Kumar has …

There will not be a single job loss due to merger of banks, assures Nirmala Sitharaman
5 years, 4 months ago

There will not be a single job loss due to merger of banks, assures Nirmala Sitharaman

Firstpost  

The merger of banks will bring down the number of state-run banks to 12 from 19 after the merger of Dena Bank and Vijaya Bank with Bank of Baroda effective April 2019. Chennai: Finance Minister Nirmala Sitharaman on 1 September allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be …

Will bank mergers result in job losses? Nirmala Sitharaman rules it out
5 years, 4 months ago

Will bank mergers result in job losses? Nirmala Sitharaman rules it out

India TV News  

Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. Sitharaman on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as the government looked …

All India Bank Employees Association opposes government's bank merger
5 years, 4 months ago

All India Bank Employees Association opposes government's bank merger

India TV News  

The real agenda of the government in merging banks is to help big corporates as consolidation of the banks will not result in recovery of huge bad loans, said a top official of the All India Bank Employees' Association. Opposing the merger of 10 public sector banks into four, C. H. Venkatachalam, General Secretary of AIBEA, in a statement issued …

Banks merger reflects govt resolve to address economic slowdown: India Inc
5 years, 4 months ago

Banks merger reflects govt resolve to address economic slowdown: India Inc

India TV News  

The government's move to consolidate public sector banks indicates its resolve to address the slowdown in GDP growth, as the country's economy expanded at its weakest pace in over six years in the April-June quarter of 2019-20, the industry said on Friday. A sharp deceleration in manufacturing output and subdued farm sector activity pulled down India's gross domestic product growth …

Merger can't tackle issues of low capital,higher NPAs:Analysts
5 years, 4 months ago

Merger can't tackle issues of low capital,higher NPAs:Analysts

India TV News  

Even though the mega-merger of 10 public sector banks is a step in the right direction as it will increase operational efficiencies of the merged entities, the key issues of low capital and higher bad loans will continue to plague them, say analysts. Amidst the growing signs of deepening slowdown, finance minister Nirmala Sitharaman Friday announced four new set of …

Govt unveils mega bank mergers to revive growth from 5-yr low
5 years, 4 months ago

Govt unveils mega bank mergers to revive growth from 5-yr low

India TV News  

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as it looks to boost economic growth from a five-year low. Finance Minister Nirmala Sitharaman, who had last week announced tax sops and measures for sectors such as auto, announced four new set …

What will change, what won’t for account holders as 10 PSU banks are merged into 4
5 years, 4 months ago

What will change, what won’t for account holders as 10 PSU banks are merged into 4

Hindustan Times  

Finance Minister Nirmala Sitharaman on Friday announced a slew of PSU bank mergers as part of consolidation efforts and said, “We want banks with strong national presence and enhanced risk appetite.” Finance Minister Nirmala Sitharaman during a media briefing on the Gross Domestic Product Index at the National Media Centre in New Delhi on Friday. The banks mergers announced by …

Mega bank merger announcement: Govt to amalgamate 10 public sector banks into four large entities
5 years, 4 months ago

Mega bank merger announcement: Govt to amalgamate 10 public sector banks into four large entities

Firstpost  

After the bank merger, only 12 PSBs will be left in India from the 27 earlier After the announcement of the foreign direct investment, in a major reform measure, the Central government on Friday amalgamated 10 public sector banks into four entities, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders …

Govt announces sweeping governance reforms for PSU bank boards
5 years, 4 months ago

Govt announces sweeping governance reforms for PSU bank boards

Live Mint  

The government on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India to create the second-largest banking network in the country with 11,431 branches. "Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with the business of …

Bank mergers aimed at economic growth | Highlights from Nirmala Sitharaman's briefing
5 years, 4 months ago

Bank mergers aimed at economic growth | Highlights from Nirmala Sitharaman's briefing

India TV News  

Finance Minister Nirmala Sitharaman Friday addressed a press conference Friday, wherein she announced the merger of public sector banks. Many of these fugitives we are trying to get back were encouraged during their time, says Sitharaman 04:58 pm: Non-official directors to perform role analogous to independent directors, says Finance Minister 04:57 pm: Bank boards given the flexibility to fix sitting …

Modi govt's mega bank merger drive: Now there will be only 12 PSU banks
5 years, 4 months ago

Modi govt's mega bank merger drive: Now there will be only 12 PSU banks

India Today  

In second set of major policy announcements to address economic concerns, Union Finance Minister Nirmala Sitharaman on Friday announced merger of six public sector banks with four better performing anchor banks. NEW PICTURE OF PSU BANKS 1) The after the Oriental Bank of Commerce and United Bank are merged into the Punjab National Bank, it will become India's second largest …

Bank of Baroda is now third largest lender as Dena, Vijaya merger take effect
5 years, 9 months ago

Bank of Baroda is now third largest lender as Dena, Vijaya merger take effect

Live Mint  

State-run Bank of Baroda is catapulting itself for a larger play in the system with the merger of Dena Bank and Vijaya Bank with itself from Monday. The government-forced merger, announced last in September, creates the third largest bank in the country after State Bank of India and HDFC Bank. This is second merger of state-run banks in the recent …

Supreme Court refuses to stay merger of Vijaya, Dena Bank with Bank of Baroda, dismisses applications by bank officers' associations
5 years, 9 months ago

Supreme Court refuses to stay merger of Vijaya, Dena Bank with Bank of Baroda, dismisses applications by bank officers' associations

Firstpost  

The proposed amalgamation will make Bank of Baroda the second largest public sector bank after State Bank of India New Delhi: Clearing decks for the scheduled merger of three public sector lenders—Vijaya Bank, Dena Bank and Bank of Baroda—the Supreme Court on Thursday refused to stay the amalgamation. The proposed amalgamation will make Bank of Baroda, which will merge the …

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