PSBs consolidation building block for $5 trillion economy: Finance secy
- The consolidation will help create strong and globally competitive banks, said Kumar
- The Indian banks are having 1% higher core capital requirement than the Basel III norms
New Delhi: The government's decision to consolidate 10 public sector banks (PSB) into four mega state-owned lenders will act as a building block for achieving $5 trillion economy target, Finance Secretary Rajiv Kumar has said.
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