India to study mergers of state-run banks in efficiency push

RBI logo from the Bank’s social media page. September 2015

India will consider merging some of its more than two dozen state-run banks, the finance minister said on Saturday, as the government seeks to improve efficiency at the ailing lenders that dominate the nation’s banking sector.

Bankers have “strongly supported” the idea of consolidation, suggesting the government form a panel of experts to devise a merger strategy, Arun Jaitley said after a two-day annual brainstorming event of industry leaders and officials from the central bank and finance ministry.

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