The Banks Board Bureau (BBB), which will independently oversee consolidation.
It is not feasible to bring down the government’s share in state-owned banks below 51%, consolidation to create strong banks is the only survival option.
PSB hold more than two-thirds of assets in India’s banking industry. They hold about 85 percent of non-performing loans also.
The likely list of public sector bank with anchor bank ( with which other banks will get merged) is shown below.
1. State Bank of India ( Anchor Bank)
State Bank of Hyderabad
State Bank of Patiala
State Bank of Travancore
State Bank of Bikaner & Jaipur
State Bank of Mysore
2. Punjab National Bank (Anchor Bank)
Oriental Bank of Commerce
3. Canara Bank (Anchor Bank)
Indian Overseas Bank
4. Union Bank Of India (Anchor Bank)
IDBI Bank Ltd
Central Bank of India
5. Bank of India (Anchor Bank)
Bank of Maharashtra
6. Bank of Baroda (Anchor Bank)
United Bank of India
Punjab & Sind Bank
Bhartiya Mahila Bank