Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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 :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARDS :: empanelment :: due date for vat payment :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: form 3cd
 
 
Mergers and Acquisitions »
 Is India a more conducive market for mergers than acquisitions?
 Decoding The Merger And Acquisitions Trends In Indian Startup Ecosystem
 India witnesses high level of merger and acquisition in online food delivery start-up space
 Financial services ripe for mergers and acquisitions
 Telecom M&As mean better spectrum utilisation, services: Govt
 Vodafone India-Idea Cellular merger deal gets CCI nod
 Surge in due diligence activity brings flood of business to big four
 As Reliance rolls out Jio Phone for 'free', mergers among smaller telcos may accelerate
 Building market institutions can help M&As move faster
 How corporate mergers and acquisitions impact small investors
 Merger control triggers and thresholds in India

Moves afoot for mergers of public sector banks
December, 21st 2012

The government is moving afresh to create mega banking entities by consolidating public sector banks to face stiff competion from new private banks that are expected following the passage this week of a banking reform bill that would usher in more bank licences.

Parliament on Thursday finally passed the Banking Laws (Amendment) Bill, paving the way for the entry of new banks in the country.
“The issue of consolidation (of public sector banks) has been taken up by the finance ministry, though it is still at a nascent stage,” said a senior finance ministry official on condition of anonymity.

India’s largest bank, the State Bank of India has already merged some of its associate banks with itself and other such moves in the public sector may gather steam.

Finance minister P Chidambaram, during the tenure of UPA I, had batted for bank consolidation but faced stiff opposition from trade unions. While he underlined the need for banks to merge, he left it to banks to take the process of merger through.

“The issue has been brought up once again, we want good large banks to merge with each other and this has to happen,” the official said.

The Reserve Bank of India is expected to come up with guidelines on new banking licences in the next fiscal year.

Size and customer service are among the key challenges that public sector banks face at this stage.

At present, there are 23 public sector banks in the country with over 700,000 employees.

Banks, however, maintain that the government needs to aid banks in this transition.

“It is important that the government takes the initiative if this exercise has to be made a success, it would be difficult for banks to carry out such an exercise,” said the chairman and managing director of a mid-sized state-owned bank.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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