Govt to Host 2-Day PSB Manthan for Banking Reforms

The Department of Financial Services (DFS) will organise a two-day 'Manthan' with public sector banks (PSBs) on September 12-13 to discuss interest rate cut transmission, credit growth, deposit mobilisation, and possibly exchange of ideas on consolidation in the PSB space at an opportune time to create global-scale banks.

- FE BUREAU

The exchange of ideas will likely touch upon reforms required to increase productivity, deepen digital and data capabilities, and build future readiness in terms of resilience and governance.

The meeting, which will be chaired by DFS secretary M Nagaraju, will likely discuss how to transform PSBs into stronger institutions, sources said.

The previous mergers among PSBs have yielded good results in the past, and could explore the synergies, if any, and look at them for further consolidation in due course.