In a bid to widen assets base of leading Indian banks as also enhance their global competitiveness, The Associated Chambers of Commerce and Industry of India has called for Bank’s consolidation without any delay despite dithering of Reserve Bank of India on the issue.
The ASSOCHAM analysis titled The Need for Banking Sector Consolidation after having analyzed position of total assets of India’s ten largest banks vis à vis size of it’s GDP at end of fiscal 2008-09 finds that size of Indian banks in terms of their assets stands very small to make optimal use of their capacities to raise funds at internationally competitive rates. The balance sheets of top 10 Indian banks suggest the greater scope of consolidation to reap the benefits of large sized globally competitive Indian banks.
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Tuesday, December 15, 2009
Bank consolidation is the need of hour - ASSOCHAM
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