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Can be announced before December 31

According to sources in the Ministry of Finance, the government wants that there are some big banks in the country. Therefore, PNB, OBC and Andhra Bank are working on the possibility of consolidation. The government is negotiating with the bank officials and investigating behaviorism of consolidation. It is possible that this delivery will be announced before December 31.

On September 17, the Central Government announced the progress of the transfer of three public banks - Bank of Baroda, Dena Bank and Vijay Bank. It is expected that the approval of these three banks will be approved in the next Cabinet meeting next week.

These three banks will work on a set deadline and will be completed by the end of the financial year 2018-19-19, all necessary regulatory procedures will end on April 1. The finance ministry said that the combined banks will be effective till 1 April, 2019. Last year, in the State Bank of India the government merged five subsidiary banks.


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