RBI to ensure mega bank mergers non-disruptive, central bank in discussion with govt: Shaktikanta Das

The Reserve Bank of India (RBI) is in discussions with the government to ensure that the mega bank merger process is carried out in a non-disruptive, governor Shatikanta Das said on Friday

Press Trust of India September 20, 2019 18:35:19 IST
RBI to ensure mega bank mergers non-disruptive, central bank in discussion with govt: Shaktikanta Das
  • The critical issue is to ensure that the process of transition following the merger should be in the most non-disruptive manner, Das said

  • Last month, the government had announced creation of four large state-run banks by merging ten of them

  • The move will take down the number of total state-owned banks to 12 from the 19 this April

Mumbai:  The Reserve Bank of India (RBI) is in discussions with the government to ensure that the mega bank merger process is carried out in a non-disruptive, governor Shatikanta Das said on Friday.

The critical issue is to ensure that the process of transition following the merger should be in the most non-disruptive manner, he said.

RBI to ensure mega bank mergers nondisruptive central bank in discussion with govt Shaktikanta Das

RBI governor Shaktikanta Das. Image courtesy: PIB

Last month, the government had announced the creation of four large state-run banks by merging ten of them. The move will take down the number of total state-owned banks to 12 from the 19 this April.

"This is an issue which is also being discussed between the government and the RBI so as to ensure that the entire process of transition is non-disruptive," Das said at an India Today event.

The governor said the transition has to be non-disruptive in terms of credit disbursements, loan repayments, loan collections and all other functions of banking should not be affected.

Of the 10 banks getting merged, only a few of them have so far recieved the board mandate and none of them have moved the RBI seeking approvals.

Updated Date:

also read

India supports inclusive, representative govt in Afghanistan, says EAM Jaishankar
World

India supports inclusive, representative govt in Afghanistan, says EAM Jaishankar

In a veiled reference to China's Belt and Road Initiative, Jaishankar on Thursday said any serious connectivity initiative must be consultative, transparent and participatory and conform to principles of sovereignty and territorial integrity

TMC youth leader Saayoni Ghosh, arrested on attempt to murder charge, granted bail by Tripura court
India

TMC youth leader Saayoni Ghosh, arrested on attempt to murder charge, granted bail by Tripura court

The TMC leadership claimed several party activists came under attack when they had gathered outside the police station, where Ghosh was taken to after arrest

Senior citizens in New Delhi to get free travel to Ayodhya starting next week; check details here
India

Senior citizens in New Delhi to get free travel to Ayodhya starting next week; check details here

Under the free pilgrimage scheme, tourists will get to visit sites including Rameswaram, Dwarka, Puri, Vaishno Devi, Shirdi, Haridwar, Rishikesh, Mathura, Vrindavan among others