Is the Finance Ministry preparing the ground for consolidation among public sector banks (PSBs)? Its recent missive to the 26 PSBs seems to suggest so. The Ministry said there is a need for continuous interaction between these banks to improve their functioning. This can be achieved by sharing experiences and lessons learnt which in turn will help fine-tune internal policies and procedures. Seven large PSBs – State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), Bank of India (BoI), Union Bank of India, Central Bank of India and Canara Bank – have been assigned the responsibility of co-ordinating the activities of 19 other PSBs in six specific areas of operation......
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