While addressing Sitharaman said, "We need to lay a strong foundation for the financial sector, but also make sure that we give banks a good governance model".
Business Standard reported Sitharaman will meet executives of 10 PSU banks.
In 2017 the government merged State Bank of India with its associate banks, and this year it merged Bank of Baroda with some smaller peers.
The total number of banks is expected to reduce even further to around only four or five as per the Indian government's plans for the sector.
Giving a break-up of which bank gets how much, the Finance Minister said that the PNB would get Rs 16,000 crore and Rs 11,700 crore will go to the Union Bank Of India.
A merger announcement involving BoM, which is the convener of the State-Level Bankers' Committee (SLBC), at this stage could have given the Opposition parties a stick to beat the ruling party with during election campaign. Bigger, fewer and healthier banks will be in a better position to finance new projects and support the government's aim of making India a $5 trillion economy by 2024.
Among the other mergers, Canara Bank and Syndicate Bank will be combined to form the fourth-largest PSB, with a business of Rs 15.20 lakh crore. Bank of Maharashtra (BoM) in the west will continue with Rs. 2.34 lakh crore of business, along with Punjab & Sind Bank, with a business of Rs. 1.71 lakh crore.
Sitharaman said that these infusions would be for credit growth and meeting regulatory needs. The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees. In 2018, the government made a decision to merge the Bank of Baroda with the Vijaya Bank and the Dena Bank.
"The mergers have been done selectively to ensure that the stronger banks are not impacted due to the weaker banks in the merger process", said Siddharth Purohit, a research analyst at SMC Institutional Equities.
The government also allowed the Life Insurance Corporation to acquire 51 per cent in the IDBI Bank.
In Missouri , the American Civil Liberties Union and Planned Parenthood challenged the law and asked a judge to block the measure. An attorney representing the state of Missouri also made arguments Monday, arguing against the injunction request.
Although the highly infectious disease has proved stubborn to contain inside Congo, cross-border contamination has been rare. Many Congolese young people attend school across the border where job and education opportunities are greater.
Dozens of young people with an unidentified lung illness have been hospitalized around the country in recent weeks. The Sun have reported that almost 200 people have contracted severe respiratory illnesses after vaping.
In bilateral talks Sunday, Johnson sat opposite Trump and praised the US economy, but expressed some discontentment with the U.S. Johnson and his allies say that the bid to rule out no-deal undermines Britain's hand in negotiations with the EU.
Elena Schiera, a 19-year-old visiting from Palermo, Sicily, described the scene as the eruption began near her family's boat. Intervention by firefighters for widespread vegetation fires, teams on motorboats and helicopters.
It is understood United will pay around £6 million of Sanchez's salary while Inter will pay for the rest of his £16 million wage. The Chilean played 45 matches for Manchester United till date - and has netted just five times for them.
VMware emphasized that it visions to enable a consistent hybrid cloud platform support across all major public clouds. Twenty-nine% of respondents plan to increase workloads on VMware Cloud on AWS in the next 12 months.
However, it said, "The people and communities affected by the opioid crisis need help now". "Litigation is not the answer". The Pike County Circuit Court Clerk's office could not immediately say how and when they would be available.
Eddie Redmayne & Felicity Jones Star In 'The Aeronauts'
The film also stars Phoebe Fox , Himesh Patel , Vincent Perez, Anne Reid , Tom Courtenay , Tim McInnerny and Rebecca Front. "So it begins..." Amazon has unveiled the first trailer for its Eddie Redmayne-Felicity Jones pic The Aeronauts .
Five reasons to watch out for the June quarter GDP growth
The National Statistical Office on Friday will release India's economic growth figures for the April-June quarter of 2019-20. Ind-Ra Principal Economist Sunil Kumar Sinha believes these measures would support growth only in the medium term.
Should've asked Cong FMs: Sitharaman on Rahul's RBI remark
At the same time, she's trying to stick to a narrower fiscal deficit goal of 3.3 per cent of gross domestic product for this year. The amount consists of Rs 1,23,414 crore as surplus or dividend for 2018-19 and another Rs 52,637 crore from its surplus capital.
Lloyd believes women could be kickers in NFL
There's a list of women who have played football from the high school to semi-professional levels, nearly all as kickers. One team reportedly gauged her interesting in kicking in their preseason finale this week. "I invite pressure.
More than 200,000 evacuated in Japan amid flood disaster fears
Saga Governor Yoshinori Yamaguchi asked the federal government for deployment of the military for dispatching disaster relief. Numerous deaths were blamed on the fact that evacuation orders were issued too late and some people failed to follow them.
Boeing Sued By Customer Over 737 MAX
Although official investigations into the accidents are ongoing, an anti-stall system unique to the Max has been implicated. Earlier on Tuesday, Rostec said its unit had filed a lawsuit in the United States to cancel its order for the 35 MAX jets.
On Camera: Angry Rhino Attacks Car, Flips It Over Three Times
Moreover, Sepe adds, Kusini is not a danger to park visitors because he is only allowed out before and after visiting hours. Park officials insisted the animal, which was given to the park for breeding purposes, does not pose a threat to visitors.