Finance Minister Nirmala Sitharaman addresses her second press briefing on Friday amid expectations that government would announce more steps to accelerate the sluggish economic growth.
We shall continue with two banks which will have national presence – Bank of India with Rs 9.3 lakh crore of business size and Central Bank with Rs 4.68 lakh crore of business size: Sitharaman
‘Indian Bank to be merged with Alahabad Bank. This will become the seventh largest bank in India, says FM.
Union Bank, Andhra Bank, Corporation Bank to be merged, says Niramala Sitharam.
Punjab National Bank, Oriental bank of Commerce, United bank to be merged
“This financial year, 14 public sector banks are in a profit earning situation out of 18,” says Nirmala Sitharaman.
“After my previous announcement, 4 NBFCs are reaching out to public sector banks to provide the liquidity that they require,” said Nirmala Sitharaman.
Financial sector and banks are the focus of today’s announcements, says Sitharaman
Finance Minister Nirmala Sitharaman begins her address to media.