Abizer Diwanji of consultancy firm EY said defaults are bound to happen in the banking business, but one has to deal with them upfront rather than taking 5-7 years to deal with it.
Among other things, the respondents will be asked whether the merger was positive from the point of customer services.
The Reserve Bank of India (RBI) on Tuesday proposed a draft scheme to Lakshmi Vilas Bank with DBS Bank India Ltd, a wholly-owned subsidiary of DBS Bank Ltd (DBIL), Singapore. The decision came soon after it had imposed a one-month moratorium on the private lender and capped deposit withdrawals at Rs. 25,000.
The Reserve Bank on Monday proposed to change the convenors of State Level Bankers' Committee (SLBC) in view of the merger of 10 public sector banks into 4 with effect from April 1.
As the bank merger becomes effective April 1, Finance Minister Nirmala Sitharaman is scheduled to meet the chief executives of the amalgamating banks on Thursday to review the preparedness for the merger. The Union cabinet already approved consolidation of 10 public sector banks into four, earlier in the month.
The Union Cabinet on Wednesday approved amalgamation of 10 public sector banks, including Allahabad Bank, Andhra Bank and OBC, to create large four state-owned lenders with effect from April 1, Finance Minister Nirmala Sitharaman said. These will be in addition to State Bank of India, Bank of Baroda, and Bank of India.
A nationwide two-day bank strike called by the United Forum of Bank Unions (UFBU) has entered its concluding day on February 01.
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