New Delhi: The government on Monday said it is examining the possibility of further consolidation in the public sector banking space without waiting for their finances to improve. “We have now relooked at the whole system and there are some institutions within the public sector banks which can be consolidated even in the present circumstances. Toxic loans of public sector banks rose by over Rs1 trillion to Rs 6.06 trillion during April-December of 2016-17, the bulk of which came from power, steel, road infra and textile sectors. Similarly, Dena Bank could be merged with some large banks like South Indian bank. Citing the example of Axis Bank, he had wondered if IDBI Bank could follow that model.

Source: Mint June 05, 2017 14:48 UTC