Government asks RBI to identify banks that could be merged, says report
Updated : August 30, 2018 08:43 AM IST
Public sector banks (PSBs) roughly hold 90 percent of non-performing assets and 11 out of 21 banks are operating under the supervision of the central bank, on an emergency program, the report added.
People familiar with the development said that the finance ministry has asked RBI to provide a time frame for the consolidation, a step aimed to create better-capitalised, fewer banks.
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