Budget 2016: Govt to announce PSBs' consolidation plan; to infuse Rs 25,000 cr - Feedback

Government will unveil a roadmap for consolidation of public sector banks (PSBs) which are expected to get an infusion of Rs 25,000 crore next fiscal, Finance Minister Arun Jaitley said today.

Besides, the government may consider bringing down its stake in state-owned IDBI Bank to below 50 per cent, he said while presenting Budget 2016-17 in the Lok Sabha. “Our Public Sector Banks will have to be strong and competitive. The Bank Board Bureau will be operationalised during 2016-17 and a roadmap for consolidation of Public Sector Banks will be spelt out,” he said. He also added that the process of transformation of IDBI Bank has already started.


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