FM Nirmala Sitharaman to review bank merger preparedness on Thursday

Banks likely to set up common call centres and monitoring cells

Finance Minister Nirmala Sitharaman is set to hold a meeting with chief executives of amalgamating state-owned banks on Thursday to review the planning and preparedness for the merger, which will begin from April 1.

According to a communique issued by the ministry to the banks on March 5, the executives of each set of merging banks will have to make a presentation to the FM focussed on six areas.

On the top of the agenda is to ensure “no disruption to flow of credit in the run-up to the amalgamation, on the day of the amalgamation and thereafter.”

From April