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PNB may take control of 2-3 small state-run banks in three months: report

The Indian government is seeking to consolidate the nation's debt-burdened state banking sector.

twitter-logo Reuters        Last Updated: May 21, 2019  | 16:19 IST
PNB may take control of 2-3 small state-run banks in three months: report

India's Punjab National Bank could take control of two-to-three small state-run banks, that could include Oriental Bank Of Commerce, Andhra Bank and Allahabad Bank, according to two sources familiar with the situation.

PNB could start the process of taking control of the banks in the next three months, according to the sources, who declined to be named.

The Indian government is seeking to consolidate the nation's debt-burdened state banking sector.

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