Is it going to do any good for the industry and the three banks?
Giving the context of the merger, he said bank lending was becoming weak, hurting corporate sector investments.
He also informed that the RBI was also consulted before the proposal.
Arun Jaitley, Finance Minister of India briefed the media and said that the merger has been conceived in such a way that the combined lender will not end up being weaker than the existing individual entities. "Its ability to increase and expand will be inevitable", he said. "The merger of the three banks will make this the third largest in of the country", Financial Services Secretary Rajiv Kumar announced, while addressing a press conference.
"Capital Adequacy Ratio (of the amalgamated bank) at 12.25 per cent is significantly above the regulatory norm of 10.875 per cent and the stronger amalgamated bank will be better positioned to tap capital markets", the government said. The meeting chaired by Jaitley was attended by Ministers Piyush Goyal and Nirmala Sitharaman.
The government had consultations with the Reserve Bank of India on the merger, Jaitley said. The combined entity is expected to retain the regional strength of Dena Bank and Vijaya Bank.
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The plan to merge the three banks was taken by a ministerial panel, led by Finance Minister Arun Jaitley Monday.
Bank of Baroda shares fell over 11 per cent after earlier losing as much as 11 per cent in Tuesday's trade after the government announced its merger with smaller peers Dena Bank and Vijaya Bank, both of which gained.
Last year, top lender State Bank of India was also merged with five of its subsidiary banks.
Apart from IDBI Bank and Dena Bank, the nine other banks now under the RBI's PCA framework are Bank of India, UCO Bank, Central Bank of India, Indian Overseas Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank.
"No employee will face any service conditions which are adverse in nature. With BOB forming the biggest chunk of the business (two-third), this scheme appears to create some headwinds for the bank", said Dhananjay Sinha, Head of Research, Economist and Strategist, Emkay Global Financial Services.
Banking sector reforms are a major plank of Prime Minister Narendra Modi's administration to revive credit growth, which has slowed to multi-decade lows as banks struggle with bad loans.
The administration earlier this month floated the idea of talks led by Mnuchin, with Liu expected to lead the Beijing delegation. They were among 300 tariff lines scrubbed from the preliminary target list released in July, according to one of the officials.
Gonzalez missed two field goals and two extra points that conceivably could have won Cleveland's first game in almost two years. According to Adam Schefter of ESPN, Gonzalez has been kicking with a groin injury that requires an MRI.
The fate of the military personnel is 'unknown, ' the ministry said in a statement which was carried by Russian news agencies. Syrian regime military sources have told Russian media that Latakia's power station and an aluminium factory had been hit.
The Senator added the Judiciary Committee will be "working diligently to get to the bottom of these claims". "I agree with Sen". Kavanaugh had issued a similar statement on Friday, before the identity of his accuser was made public.
NASA has launched a laser satellite to track the loss of ice sheets and glaciers across the world as the climate warms. It's only outright failure occurred 100 launches ago. "Delta 2 holds a really special place in so many folks' hearts".
Thomas says missed field goals have haunted Vikings fans for so many years, it's easy to lose confidence in a kicker like Carlson. That sealed his fate, and when asked about Carlson's release, Zimmer was pretty blunt in his assessment.
Other commentators have suggested Beijing use its holdings of US government debt or target American companies in China. President Donald Trump will reportedly announce new tariffs on $ 200 billion in Chinese goods on Monday or Tuesday.
According to Diane Chung's legal claim, her Note 9 suddenly felt significantly hotter while she was using it inside an elevator. She put the bag on the floor and tried to empty it, burning her fingers in the process, the suit alleges.
Hundreds of thousands of homes across North and SC are without power and tens of thousands of people are in emergency shelters. Gas stations were abandoned, with many pumps keeled over, and fallen trees cluttered many roads, making them impassable.
Amy Sherman-Palladino makes history with Emmy wins
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On-stage proposal shocks Emmys
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Rivers pose epic Florence flood risks — WHAT’S HAPPENING
Thousands of homes and businesses did not have power. "Right now we've rescued over 400 people". "I'm not going to waste my time". Rain-soaked furniture workers helped him quickly empty more than 1,000 mattresses from a warehouse in a low-lying strip mall.
How to use iOS 12's fun new Memoji feature
Make sure you've backed up your iPhone or iPad before you download and install the update - otherwise you risk losing your data. And while older iPhone users have been wise to avoid newer operating systems in recent years, iOS 12 is kind to older phones.
USA imposes new $200bn tariffs on China
If China does retaliate, Trump threatened to add a further US$267 billion (NZ$406 billion) in Chinese imports to the target list. Apple Inc. said last month the proposed duties on US$200 billion cover a wide range of products used in its USA operations.
Pochettino not anxious by Spurs slump
"I think that we made a lot of mistakes and we were punished by a team that [makes it] hard when you concede these chances". So now we have to prove that and do it again and again and again, and see if we can do so. "It's still early, five games".
OnePlus will add a smart TV to its lineup next year
It's forming a new division to create the new smart telly, which it says will sit alongside its smartphone division. Lau rebuffed questions about hard delivery dates for the new TV, as well as where it will be first released.