Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: cpt :: articles on VAT and GST in India :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: empanelment :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: VAT RATES
 
 
« Mergers and Acquisitions »
 What is Triggering the Wave of Mergers & Acquisitions in the Indian Internet Space?
 Oil and gas mergers and acquisitions are finally making a comeback
  Mergers: Commission approves acquisition of St Jude Medical by Abbott Laboratories, subject to conditions
 Mergers and Acquisitions: What’s Happening in the OFS Industry?
 Mergers: Commission approves acquisition of St Jude Medical by Abbott Laboratories, subject to conditions
 Prediction: These 8 Companies Will Get Bought in 2017
 Third Quarter Results Show Continued Strength in Mergers and Acquisitions
 Mergers and Acquisitions Modelling 3 Day Course - 23.03.17 - Research and Markets
 Foiled cross-border mergers and acquisitions
 Mergers and Acquisitions: 15 Important Considerations for In-House Counsel
 U.S. mergers and acquisitions activity expected to remain steady in 2017: KPMG

FM wants PSBs to take the M&A route
September, 30th 2009

The finance ministry on Tuesday reiterated the need for government-run banks to look for mergers and acquisitions in the next 5-10 years to achieve optimum economies of scale. According to finance secretary Ashok Chawla, merger is important so that banks can achieve balance sheet and asset size, which corresponds to the need of the country.

To support the growth of the economy at 9-10%, size of banks is very important, said Mr Chawla, adding that, it would not only help in meeting domestic transactions, but a multitude of international transactions. "Subject to synergy, subject to reasonable similarity in culture, they in the next 5-10 years really need to look at consolidation and merger," said Mr Chawla in Delhi, after launching the mobile banking service of Vijaya Bank.

The country's largest public sector bank State Bank of India currently ranks 64th among global banks, while China has four banks, among the worlds top 20 banks.

"We do need banks with optimum size to reap the advantage of economies of scale. Size is important in todays world to achieve optimum economies of scale and therefore as a general prescription it would be good for medium-size banks to look at where there are synergies, where there are cultural fits and carry forward the process of mergers and acquisition which is essentially something which the banks and management have to take a call on," Mr Chawla pointed out.

SBI chairman OP Bhatt had earlier pointed out in an ET conference that with India Inc pushing on with the globalisation drive, it is time banks evolved in sync with the changing times.

Mr Bhatt had then conceded that Indian banks are not in a position to cater to the demands of the corporate. "Foundation of Indian banking industry is solid. But looking forward, there are things we have to do if it has to remain in sync with the times," said Mr Bhatt.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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