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

Name: 'Merger of state-run banks ‘right move but not at the right time'
Uploaded: 2019-10-12T00:00:00.000Z
Description: Former RBI governor Raghu Ram Rajan said that the recent merger of 10 state-run banks into four entities was &ldquo;unnecessary&rdquo;. Ram Rajan says the economy is in a downturn ....

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.

Nirmala Sitharaman

Central Cabinet Minister

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