State-Run Banks Trade With Gains As In-Principal Approval For Merger Is Received

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    For the second day in trade, bank shares traded in green taking the BSE Bankex to a high of 27,297, a 1% increase. The move sets in after the banks receive 'in-principle approval ' from the government for an alternative mechanism for getting further in the merger and the consolidation process.

    Banks Trade With Gains As In-Principal Approval For Merger Is Received

    As an alternative process, GoM or Group of Ministers shall be constituted and the banks under consideration shall be provided to these GoM . Also, the merger shall be implemented depending on the regions covered i.e. banks covering similar regions shall be merged. Also, capital adequacy, asset quality and profit adequacy shall also be factored in while deciding on bank merger.

    In the beginning of the fiscal year, SBI consolidated with its subsidiary companies

    PNB, ICIC Bank, Bank of Baroda and State Bank of India were the top gainers in the BSE Bankex while Kotak Mahindra was the only loser in trade today in the index.

    Goodreturns.in

    Read more about: banks merger bankex consolidation sbi
    Story first published: Wednesday, August 23, 2017, 15:20 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more