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PSU BANKS: Privatisation proposal nixed, Plan B is merger, says finance ministry source

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PSU BANKS

Privatisation proposal nixed, Plan B is merger, says finance ministry source

This story was originally published at 17:43 IST on May 17, 2024  Back
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In a rethink of the plan to privatise two public sector banks, the government is now contemplating an altogether different strategy to strengthen the banking sector. The finance ministry is now looking at merging certain state-owned banks in case the Bharatiya Janata Party-led National Democratic Alliance is re-elected to power in the ongoing General Elections, a senior finance ministry official said.

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