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To revive the sector, the government has injected roughly $36 billion of taxpayer money into state-run banks over the last five years.
September 1st, 2019 - 08:07 GMT

India Announces Series Merger of 10 Public Sector Banks

India announced a series of mergers involving 10 state-owned banks on Friday, as it moves to strengthen a sector struggling under a mountain of debt and ensure stronger balance sheets to boost lending and revive economic growth. {"preview_thumbnail":"https://cdn.flowplayer.com/6684a05f-6468-4ecd-87d5-a748773282a3/i/v-i-3…","video_id":"332b5940-4475-4223-8145-3ae1440e586c","player_id":"8ca46225-42a2-4245-9c20-7850ae937431","provider":"flowplayer","video":"Top 10 countries in the world to visit"} The mergers, which cut to 12 the total number of state-owned banks from 27 in 2017, are the first since Indian Prime Minister Narendra Modi's ...
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