Bank of Baroda, Central Bank, including these 4 banks will be closed! Modi government will take a big decision Modi government is going to take a big step soon to improve the banking sector. The government is working on a Mega Merger plan. 4 government banks are preparing to make a major bank by merging them. According to the sources, IDBI, Oriental Bank of Commerce (OBC), Central Bank of India and Bank of Baroda (BoB) are proposed to be merged to form a major bank. If this happens, then the State Bank of India (SBI) will become the country's largest bank. The new bank will have an asset of Rs 16.58 lakh crore.
The four banks are in loss Let us tell you that in the financial year 2018, all four banks have lost approximately Rs. 21664 thousand crore. Due to this, the government is preparing to create a new bank by merging these four banks. According to sources in the Finance Ministry, in this situation, banks will be able to improve the condition of the situation. As well as the financial condition of the weak banks can be improved. The new bank will become the country's second largest bank The government will merge all the banks and create a new bank. These banks will get all the banks' assets of Rs 16.58 crore. With this huge asset, the new bank will be the country's second largest bank. According to sources, the process can be done in the same manner as it was merged with its associate banks in State Bank of India. How much did the bank lose (FY18) IDBI lost the financial year 2018 to Rs 8237 croreOrientel Bank of Commerce (OBC) lost 5872 crore in financial year 2018
Central Bank loses 5105 crores in fiscal year 2018
Bank of Baroda (BoB) lost Rs 2432 crore in financial year 2018 What is the benefit of mega margar The condition of the alleged government banks will be improved. Along with this, poor banks will be able to sell their assets. It will be easy to close down the loss-laden branch. Apart from this, the job cuts will ease. The cost of banks will be lower on infrastructure The government's special emphasis on IDBIThe government's special emphasis on government banks is on IDBI Bank. Because the government has 51 percent stake in it. The government is planning to sell its entire stake. There is a plan to raise the government's Rs 10,000 crore by selling a stake. The government can sell its stake to any private company. However, no decision has been taken on the proposal yet. But soon it can take a decision on it. click here
