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Finance Minister Nirmala Sitharaman addresses a press conference in New Delhi. | Photo: Manisha Mondal | ThePrint

Nirmala Sitharaman says bank merger process underway as per schedule

Finance Minister Nirmala Sitharaman also informed that the govt is closely monitoring the impact of coronavirus on Indian economy.
Indian two thousand and five hundred rupee banknotes | Dhiraj Singh/Bloomberg

Cash crunch to force more mergers and acquisitions in India, Axis says

As funding situation erodes, founders are selling businesses to deleverage, or are raising equity to gain an edge over competitors, Axis Capital says.
File photo of Raghuram Rajan

Merger of state-run banks ‘right move but not at the right time’, says Raghuram Rajan

Former RBI governor Raghuram Rajan says amid the economic slowdown and bad loans crisis, banks will have to focus on mergers instead of better loans.
The Indiabulls Finance Centre, developed by Indiabulls Real Estate Ltd., in Lower Parel, Mumbai | Dhiraj Singh | Bloomberg

Indiabulls and Lakshmi Vilas bank, in talks to merge, face investigation over alleged fraud

The merger is crucial for shadow lender Indiabulls, which is seeking to diversify its asset base, while Lakshmi Vilas bank needs to raise capital to meet regulatory norms.
Bombay Stock Exchange

Mega mergers fail to lure investors to public sector bank stocks

Uncertainty about the timeline of the merges and poor asset quality at the PSU banks is keeping investors away.
Paramilitary personnel stand guard during restrictions in Jammu

V Katju on Trump’s Afghan policy, K Prasad on media in Kashmir & why bank mergers is wrong

The best of the day’s opinion, chosen and curated by ThePrint’s top editors.

Shares of PNB, Canara, Union Bank of India & Indian Bank plunge after govt’s merger plans

Concerns over the Modi govt's bank integration process possibly delaying lending approvals has dampened investor sentiment.

Don’t bet on India’s new mega banks but on their rivals, investors told

Consolidation comes with many challenges and investors are advised to look for value outside the 10 banks being merged, analysts say.

Modi’s bank mergers have come too late to avoid an economic crisis

Merged banks will spend the next six months on integration. Putting their balance sheets to work and issuing new bank guarantees may take a backseat.

Modi govt’s bank bailouts seen distracting focus from growth slump

Efforts to create larger, healthier lenders may be hurt by shift in attention to aligning resources such as personnel, technology & branch networks.

On Camera

Vir Das incident proves rogue sneezing and coughing are the new guns during Covid-19

Comedian Vir Das’s Twitter post showing a neighbour threatening to sneeze on him points to a growing global trend of people using sneezes & coughs as threats.

Yogi vs Uddhav vs Piyush Goyal: Will politics over migrant workers hurt economic revival?

Maharashtra CM Uddhav Thackeray’s accusation that the Railways is not running enough trains to ferry migrant workers sparked a Twitter war with Railway minister Piyush Goyal.

Defence

Indian Army

Ladakh stand-off, Kashmir, ammunition & training — agenda for Army commanders’ meet tomorrow

The biannual event is attended by the top Army leadership to brainstorm on new security and administrative issues, and plan a roadmap.
Illustration: Soham Sen | ThePrint

PM, CM, DM: India’s 3 big power centres have been exposed by one disaster

The prime minister, chief minister and district magistrate are the three engines of India’s governance, but their handling of the coronavirus pandemic is going awry.