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Another round of merger of PSU banks possible

There is another round of mergers of public sector banks possible soon, according to news reports. The reports quoting a finance ministry official said the government may soon convene a meeting of senior officials of these banks – possibly Punjab National Bank, Union Bank of India and Bank of India – to discuss broad modalities for consolidation. The official is reported to have said that the government does not want to wait for too long after the first such merger – between Bank of Baroda, Dena Bank and Vijaya Bank – and there could be a merger in the second or third quarter of the current financial year. The government is now open to looking at various combinations unlike the three-way merger, according to the official

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