Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: form 3cd :: list of goods taxed at 4% :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: TDS :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD
Mergers and Acquisitions »
 Deals Of The Day-Mergers And Acquisitions March 20, 2018
 How to keep employees motivated during mergers, acquisitions and times of great change
 Ahead of Air India bid, Jet Airways hires Delta's M&A expert Piero Ceschia
 Vivo-Oppo should merge to create a strong no 2 in the smartphone segment across India
 Deals of the day-Mergers and acquisitions March 14, 2018
 Deals of the day-Mergers and acquisitions March 12, 2018
 Deals of the day-Mergers and acquisitions MARCH 7, 2018
  Media and entertainment sector ripe for mergers and acquisitions
  Media and entertainment sector ripe for mergers and acquisitions
 Deals of the day-Mergers and acquisitions FEBRUARY 28, 2018
 Media and entertainment sector ripe for mergers and acquisitions

Govt not forcing public sector banks on consolidation: Mukherjee
December, 08th 2009

The Finance Minister, Mr Pranab Mukherjee, on Monday said that although mergers and acquisitions are needed in the interest of the economy, the Government was not forcing public sector banks (PSBs) to go in for consolidation.

He made it clear that the Government would endorse consolidation proposals of PSBs if the parameters were in conformity with the Securities and Exchange Board of India and Reserve Bank of India guidelines.

Supportive role

Responding to a calling attention motion moved by the Communist Party of India (CPI) leader, Mr Gurudas Dasgupta, in Lok Sabha, Mr Mukherjee said that the initiatives for consolidation has to come from the management of the banks themselves with the Government playing a supportive role as the common shareholder.

No, the Government is not taking any initiative for mergers (among PSBs). We do not force anybody to merger. No directive on consolidation is being issued by the Government and the RBI. Let us leave it to the entities themselves, Mr Mukherjee said.

Mr Mukherjee said that the Government has no intention of interfering in the normal and functional activities of PSBs.

Interests of stakeholders

While examining any merger proposal, the Government will keep in view the interests of the stakeholders, including the employees of the merging banks, Mr Mukherjee added.

Broadly, the employees, the owners/shareholders and the customers constitute stakeholders of the banks. Mr Mukherjee highlighted that suitable clauses are incorporated in the scheme of amalgamation/acquisition so that the pay and allowance or the compensation to the employees of merging entities are not altered to their disadvantage.

Earlier, Mr Dasgupta wanted the Finance Minister to come clean on whether the Government had overtly or covertly taken initiatives to bring about mergers within PSBs.

Economic rationale

He also sought to know the economic rationale behind State Bank of India (SBI) move to acquire State Bank of Indore when the latter was much better in all parameters when compared with its parent bank.

In each of the parameters such as business per employee, deposits per employee, advances per employee and priority sector coverage, the State Bank of Indore's performance was better than SBI's, Mr Dasgupta said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions