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Govt considering further consolidation in banking sector

The government of India is examining whether further consolidation in the banking sector is possible. This indication was given by finance minister Arun Jaitley in an interview with a TV channel. He said post the merger of the associate banks with the State Bank of India, there was a view that there can be a pause in the consolidation efforts until the finances of the banks improved. However, after a relook at the whole system it has been found that there are some institutions within the public sector banks, which can be consolidated even in the present circumstances, Jaitley said adding, the government is seriously examining the prospects.

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