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Jaitley-led Panel on PSB Mergers Constituted

Published on November 02, 2017
To reform the public sector banking space, the government of India has constituted a ministerial-led panel to inspect the merger proposals of state-owned banks.

Jaitley-led Panel on PSB Mergers Constituted
  • The panel will be headed by Finance Minister Arun Jaitley.
  • The decision is taken to fast-track the consolidation among public sector banks to build strong leaders.
  • In August 2017, the government decided to set up an Alternate Mechanism to speed up the public sector bank consolidation.
  • The government announced the 2.11 lakh crore capital infusion roadmap for the public sector banks (PSBs) last week and this is accompanied by a series of banking reforms over the next few months.
  • Railway and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman are the members of the panel. 
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