Live
- Indian students' concerns about employment, safety, and visas discourage them from applying to UK universities
- Candlelight Concerts Makes a Dazzling Debut in Hyderabad with Sold-Out 'Tribute to Coldplay' Show
- Shubman Gill Sustains Thumb Injury Ahead of Perth Test; Devdutt Padikkal Joins Test Squad
- Unlock Loot Boxes, Diamonds, Skins, and More Exciting Rewards with Garena Free Fire Max Redeem Codes for November 16
- Regarding the DOGE Plan, Vivek Ramaswamy stated, "Elon Musk and I Will Take a Chainsaw to Bureaucracy"
- Sudanese army says repulsed paramilitary forces attack in western Sudan, killing over 80
- Jaipur Open 2024: Baisoya makes a grand comeback to clinch title in marathon playoff against Rashid Khan
- Jamaat-e-Islami Hind President asks cadre to reach out to larger society beyond community
- Why PM mum on Caste Census, removing 50 pc quota limit: Rahul Gandhi
- Barrackpore Municipality Vice-Chairman found dead at home, suicide note suggests blackmail
Centre clears bank
Highlights
The Union Cabinet on Wednesday approved a proposal to set up a ministerial panel to speed up consolidation of state-run banks as part of its efforts to revive credit and economic growth.
New Delhi/Mumbai: The Union Cabinet on Wednesday approved a proposal to set up a ministerial panel to speed up consolidation of state-run banks as part of its efforts to revive credit and economic growth.
Prime Minister Narendra Modi will name the members of the panel, which will oversee proposals for mergers from the boards of the banks, Union Finance Minister Arun Jaitley said after a meeting of the Cabinet. New Delhi owns majority stakes in 21 lenders, which account for more than two-thirds of banking assets.
But these banks also account for the lion's share of more than $150 billion in sour assets plaguing the sector, and need billions of dollars in new capital in the next two years to meet global Basel III capital norms.
Next Story
ADVERTISEMENT
