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4 PSU Bank told to explore acquisition possibilities

At least 4 public sector banks have been told to informally explore possibilities of merger or acquisition of small and mid-sized banks. According to news reports, the finance ministry has asked these 4 banks, identified as large banks to examine how best each one of them can acquire small PSU banks with the intention of creating global-sized banks. The four large banks, according to the news reports are Punjab National Bank, Bank of Baroda, Canara Bank and Bank of India. These banks can look for potential banks for acquisition, the finance ministry is understood to have told them. Meanwhile, the Niti Aayog is reported to be finalizing a roadmap for a further round of consolidation in the banking sector after the five associate banks and the Bharatiya Mahila Bank merged with the State Bank of India.

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