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The Centre must leave it to the public sector banks themselves to decide on the consolidation candidates, SBI Chairperson Arundhati Bhattacharya has said.
“It is important to start conversations among banks as to who should merge with whom," she said at the Delhi Economics Conclave 2014 here on Thursday.
There is need for India to work towards 3-4 large banks through consolidation, she added.
This remark is in line with the earlier UPA regime’s policy stance of allowing banks on their own to come up with proposals for consolidation among themselves.
As on date, the Modi-led Government has no stated policy on consolidation of banks.
Indications are that upcoming Budget in February may spell out the new dispensation’s policy stance on bank consolidation and may even come up with some “big ticket” announcements on likely mergers.
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