Friday, August 30, 2019

Bank Merger Updates Live -

*Indian Bank and Allahabad Bank merged. 

* Sitharaman said the government is trying to create big next generation banks 

* Government also announced Rs55,250 crore upfront capital for credit growth & regulatory compliance to support economy. 

* Big banks with enhanced capacity to increase credit and bigger risk appetite, with national presence and global reach 

*Government's intention not just to give capital but also give good governance. 

* There is no government interference in commercial decisions of banks, says Sitharaman. 

* Gross NPA level has come down heavily. 


*Govt monitoring large loans to avert frauds. 

* Sanctioning and monitoring of loans are separated. 

* Special agencies formed to monitor loans above Rs 250 crore to avoid a Nirav Modi like situation. 

* Eight public sector banks have launched repo-rate linked loans in the last one week. 

* Four NBFC have already found liquidity solution through a settlement with banks. 

* Govt taking steps to make a clear path to achieve a target of $5 trillion economy. 




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