Mumbai, Nov 6: Finance Minister Nirmala Sitharaman announced that India is working towards creating more “big banks” by consolidating state-owned lenders and enhancing financial resilience through reforms. Speaking at a public event, she said that the government has already begun discussions with the Reserve Bank of India (RBI) and public…
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Govt Plans UBI BoI Mega-Merger; Smaller PSBs May Be Privatised
New Delhi, October 28, 2025: The finance ministry is reportedly drawing up a consolidation plan for public sector banks that includes a proposed merger between Union Bank of India (UBI) and Bank of India (BoI) to create a state-owned lender second only to SBI by assets. The blueprint also flags…
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Government Plans Mega PSB Merger to Strengthen Public Banks
NEW DELHI: The Indian government is considering a mega merger of public sector banks (PSBs) aimed at consolidating smaller lenders with larger state-run banks to strengthen the banking sector and support the next phase of credit expansion. According to a report by Moneycontrol, banks like Indian Overseas Bank (IOB), Central…
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PSU Bank Shares Rise on Govt Clarification on Stakeholding
Shares of four public sector banks—Indian Overseas Bank, Punjab and Sind Bank, UCO Bank, and Central Bank of India—rose on Wednesday after the Department of Financial Services (DFS) clarified its stance on minimum government shareholding. DFS secretary M Nagaraju confirmed that the government will not reduce its stake in PSU…