The meeting earlier to be held by Prime Minister Narendra Modi is now scheduled to be chaired by Finance Minister Nirmala Sitharaman.
Nirmala Sitharaman. (Photo: IANS)
With the motive to discuss the future roadmap for consolidation, lendings to farm sectors, MSMEs, NPA controls concerning financial situations and standby solutions for liquidity crisis, Finance Minister Nirmala Sitharaman may meet the CEOs of PSU banks Friday, banking sources informed.
The meeting earlier to be held by Prime Minister Narendra Modi is now scheduled to be chaired by Finance Minister Nirmala Sitharaman.
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Finance Minister Nirmala Sitharaman had already met the bankers for pre-Budget consultations and also discussed the problems faced by banks and non-bank lenders, stability of the financial sector and cyber security of the country with the financial sector regulators this week.
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State-run Bank of Baroda has become India’s second largest public sector bank after its merger with Dena and Vijaya Bank. The amalgamation of the two lenders with Bank of Baroda, will be effective from 1 April, 2019.
As per the information, the country’s first three-way bank merger has taken the combined geographical reach of Bank of Baroda branches to 9,490. The bank’s strength of ATMs has come to 13,400 and employees to 85,678 who now serve 120 million customers. The permutation-combination of other bank mergers are also being discussed.
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