'Merger of state-run banks ‘right move but not at the right time'
By ThePrint(Hindi) 12-Oct-2019
- 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’.
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- 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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