MERGER OF PSBS - NEW SPECULATIONS
Dated 17.12.2023 : It is reported ( in the social media and source could not be verified ) that the committee on subordinate legislation , Loksabha would have meetings with heads of various financial institutions like RBI , LIC of India , IRDAI , NABARD , UCO Bank , Union Bank of India , Bank of Maharashtra , Bank of India , and various public sector insurance companies in the first week of January 2024 at Mumbai and Goa in connection with examination of rules and regulations these institutions follow . The meetings will take place on 2nd , January 2024 at Mumbai and on 5th / 6th January 2024 at Goa
The discussions in the meetings are said to be informal and the subject of informal discussions with public sector banks include " regulatory mechanisms in post- merger scenario " . As the meetings discuss post merger scenario , rumours are afloat now that the discussions may lead to further mergers of public sector banks and names of the banks that are expected to be merged include the participating PSBS viz UCO Bank & Union bank of India and Bank of Maharashtra and Bank of India .
However as Loksabha elections are nearing , it's doubtful that the government would take any precipitative actions in the remaining few months before the election .
The discussions in the meetings are said to be informal and the subject of informal discussions with public sector banks include " regulatory mechanisms in post- merger scenario " . As the meetings discuss post merger scenario , rumours are afloat now that the discussions may lead to further mergers of public sector banks and names of the banks that are expected to be merged include the participating PSBS viz UCO Bank & Union bank of India and Bank of Maharashtra and Bank of India .
However as Loksabha elections are nearing , it's doubtful that the government would take any precipitative actions in the remaining few months before the election .
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