'Merger of state-run banks ‘right move but not at the right time'
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'Merger of state-run banks ‘right move but not at the right time'

By ThePrint(Hindi) calender  12-Oct-2019

'Merger of state-run banks ‘right move but not at the right time'

  • Former RBI governor Raghu Ram Rajan said that the recent merger of 10 state-run banks into four entities was “unnecessary”.
     
  • Ram Rajan says the economy is in a downturn and these banks are grappling with high levels of bad debt.
     
  • Rajan pointed out that mergers take a lot of time and are a ‘big headache’.

    Also read: Measures taken to draw irrigation water from Alisagar
     
  • He added that the mergers are probably the “right move”, but not at “the right time”.
     
  • The government announced the merger in August and said that it will help ease the credit flow to the economy.

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