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Central Exploring merger of nationalised banks!
Posted on: 02/Mar/2015 8:40:29 PM
The ministry of finance of the central government is exploring the possibilities of merging smaller banks with bigger banks in order to bring parity of activities of different banks at the same level.
Finance ministry has emphasised the need of bringing changes in the commercial techniques adopted by the banks to the board of directorate of all banks.
The analysis for this measure shoul ensures that the merger should be mutually beneficial.
The press release informs further that the ministry of finance is planning to set up an an autonomous board for bank operations in order to improve the efficiency and performance of the nationalised banks.
This autonomous board will also have the authority in the appointment of Bank Chairmen, Chief Executive Officers, etc.
