Four banks, including Bank of Baroda and Central Bank, will be closed, Modi Government can take a big decision
- To improve the banking sector's situation, the Modi government is planning to make a big step soon. Currently the government is working on a Mega Merger plan. Now four government banks are preparing to build a big bank together. According to information received from the sources, IDBI, Oriental Bank of Commerce (OBC), Central Bank of India and Bank of Baroda (BoB) are proposed to make a big bank. If this happens, then after State Bank of India (SBI), the bank will become the second largest bank of the country, with an asset of Rs 16.58 lakh crore.
- In the financial year 2018, these four banks have lost a total of about Rs 21646 thousand crore. Under this circumstances, the government has already merged all the banks and has set up a new bank. According to the information provided by the finance ministry sources, this step will help in improving the condition of the banks. According to the information available, similar procedure will be done in the same manner as the merger of associate banks in State Bank of India.
- How much damage to which bank happened in 2018?
- IDBI - Rs 8237 crore
- Orient Bank of Commerce (OBC) - Rs 5872 crore
- Central Bank - 5105 Crore
- Bank of Baroda (BoB) - Rs 2432 crore
- In government banks, the government is keeping an eye on the IDBI Bank as it has a 51% stake in the government. The government is preparing to sell its entire stake and this sale will fetch about Rs 10,000 crore. There is a plan to gather The government can sell its stake to a private company, but no concrete decision has been taken so far.