Union Cabinet approves alternative mechanism Framework for consolidation of Public Sector Banks

Posted on:24 Aug 2017 09:14:10
Union Cabinet approves alternative mechanism Framework for consolidation of Public Sector Banks
24 August 2017 Current Affairs: The Union Cabinet approved Framework for Consolidation of Public Sector Banks (PSBs) through an Alternative Mechanism (AM).

The decision would facilitate consolidation among the nationalised banks to create strong and competitive banks and also improve their competitiveness.

Under this framework, the decision regarding creating strong and competitive banks will be solely based on commercial considerations.

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