Updated By: LatestGKGS Desk
Union Government: Arun Jaitley to head panel for consolidation of PSUs
Union Government: Finance Minister Arun Jaitley to head alternative mechanism panel set-up for consolidation of PSBs
Finance Minister Sri Arun Jaitley on 31 October 2017 will be headed the alternative mechanism panel set-up for constituted a ministerial committee to oversee merger proposals of 21 state-owned PSU banks.
The other member of the committee includes Railways and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman.
The Union Government is also walking on banking reforms and constituted an Alternative Mechanism for Public Sector Banks. The Mechanism will oversee the proposals coming from boards of PSBs for consolidation.
Earlier, the Union Government announced a Rs 2. 11 trillion Bank Recapitalization Plan for public sector banks to stimulate the flow of credit to fuel private investment, in October 2017.
