In preparation for the Union Budget for the financial year 2025-26, the Finance Ministry has scheduled a meeting on January 15 with the Managing Directors and Chief Executive Officers of public sector banks (PSBs). The session, to be chaired by M. Nagaraju, Secretary of the Department of
Congress leader Rahul Gandhi raised questions about the financial health of public sector banks (PSBs) during a parliamentary session, alleging that the institutions are under strain. Finance Minister Nirmala Sitharaman, however, dismissed these claims, labeling them as “baseless.” Gandhi, during his address, highlighted issues he believes are affecting the
The Finance Ministry has clarified that no proposals are currently under consideration for merging public sector banks (PSBs). This statement was made in the Rajya Sabha on Tuesday, with the Ministry also acknowledging the positive impact of previous consolidations in the sector. Mergers Yield Positive Results In recent years, India has seen significant consolidation in