Govt to Announce Public Sector banks’ Consolidation plan; To Infuse Rs 25k Cr.



According To Finance Government will unveil a roadmap for consolidation of public sector banks (PSBs) which are expected to get an infusion of Rs 25,000 crore next fiscal.Besides, the government may consider bringing down its stake in state-owed IDBI Bank to below 50 per cent, he said while presenting Budget 2016-17 in the Lok Sabha.

Arun Jaitley said Our Public Sector Banks will have to be strong and competitive. The Bank Board Bureau will be operationalised during 2016-17 and a roadmap for consolidation of Public Sector Banks will be spelt out. He Also Said If additional capital is required by these Banks, he said, the government will find the resources for doing so. “We stand solidly behind these banks,” he added.

Extra info:
  • the government may consider bringing down its stake in state-owed IDBI Bank to below 50 per cent.


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