The Union Government will support the merger of public sector banks if they met the guidelines of the Reserve Bank of India or RBI and the Securities and Exchange Board of India or SEBI, media report, quoting Finance Minister Pranab Mukherjee on Monday.
Replying in the Lok Sabha to a call-attention motion, he said that the government did not take any steps for the merger as it did not intend to get into routine financial activities. As per the current policy, the government left the initiative on consolidation to the managements of the respective banks, and would play a supportive role as a common share-holder, he said. The question related to the merger of State Bank of Indore in State Bank of India. The minister assured that the interests of the stake-holders, including those employees of merging banks and customers, would be fully protected.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.