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Govt may consider consolidating weak PSUs with stronger ones

The government may consider consolidating the weak public sector banks with the stronger peers. Finance minister Arun Jaitley said there was no reason to panic over the state of the banking sector and indicated that it would look at consolidating the fragile entities with the stronger ones if the situation demands. Jaitley, however cleared that the government’s first objective was to strengthen the fragile banks in the public sector. Even after these measures, if a fragile bank exists, government will look at consolidating it with stronger banks, he said.

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