Consolidation of PSBs Current Affairs - 2020

Government constitutes Alternative Mechanism Panel for PSBs consolidation

The Union Government has constituted Alternative Mechanism Panel headed by Union Finance Minister Arun Jaitley to oversee merger proposals of public sector banks (PSBs). The other members of the panel include Railway and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman. Key Facts This alternative mechanism has been set up by the government to Read More…

Cabinet approves alternative mechanism Framework for consolidation of Public Sector Banks

The Union Cabinet has approved Framework for Consolidation of Public Sector Banks (PSBs) through an Alternative Mechanism (AM). The decision would facilitate consolidation among the nationalised banks to create strong and competitive banks and also improve their competitiveness and efficiency. Features of approved Framework for Consolidation of PSBs Under this framework, the decision regarding creating Read More…