Union Finance Minister P Chidambaram has stated that the 26 State-owned lenders may be better to be merged.
Some banks, including among the 26 public sector banks that the country has, may be better off merging, Chidambaram said in his inaugural lecture on the occasion of Annual Day of Competition Commission of India. The need for two or three world-sized banks in an economy that is poised to become one among the five largest in the world is rather obvious, he added.
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