India public banks seen merging in 2017

To meet over $40 billion in capital needs, the country's government is likely to begin merging state banks from next year, says Ravi Venkatesan, chairman of Bank of Baroda.

Richard Morrow

April 07, 2016

India will probably begin merging its 27 public sector banks by next year, with Bank of Baroda among the likely consolidators, its executive chairman Ravi Venkatesan said on Thursday.

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