Under the agenda of mergers and consolidation in Banking Sector, what the Government wants?
You see, today we have 27 Government Banks in the Public Sector. The proposal is to merge these 27 Banks into 4 or 5 banks. 2. What is the basis of such proposals? Narasimham Committee, Verma Committee, Tarapore Committee – all such Government Committees suggest various reforms in Banks including mergers and consolidation as a panacea. Of course these recommendations are tailor-made in tune with what the Government has committed to WTO i.e. to open up our banking sector to global competition (read: global valunerabiility). 3. What is the present position of our 27 Public Sector Banks? There position as on 31.3.
