The inside story of mega bank mergers
An extract from the forthcoming book ‘Pandemonium: The Great Indian Banking Tragedy’ gives a behind-the-scenes glimpse of how the Modi government’s ambitious bank merger plans unfolded.
An extract from the forthcoming book ‘Pandemonium: The Great Indian Banking Tragedy’ gives a behind-the-scenes glimpse of how the Modi government’s ambitious bank merger plans unfolded.
By merging 10 PSBs into four large banks, the Finance Minister wants to push growth through credit offtake and pave the way for a $5 trillion economy.
Finance minister Arun Jaitley says the government is committed to aiding and recapitalising PSU banks
The proposed consolidation of Bank of Baroda, Dena Bank, and Vijaya Bank will see a mega-bank with assets of ₹606,782 crore, and combined gross non performing assets (NPAs) of ₹79,320 crore
Shares of Bank of Baroda took a beating, while Dena Bank’s shares received a boost following the government’s announcement suggesting a merger of the two lenders along with Vijaya Bank.
Government proposes merger of Bank of Baroda, Vijaya Bank and Dena Bank. Experts divided on whether the move will help the troubled public sector lenders.