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Govt plans to merge small lenders with big banks; Emirates NBD to acquire 51% stake in RBL Bank; RBI boosts gold reserves | MC Editor's Picks
Episode 4866
Published 4 months, 3 weeks ago
Description
The Centre is planning to merge smaller public sector banks with larger banks such as Punjab National Bank, Bank of Baroda, and SBI by FY27. Emirates NBD’s India unit is likely to acquire a 51% stake in RBL Bank. Only about 20% of stocks are cheap today, and even that comes with legitimate concerns, as 50-60% of stocks trade in an overvalued zone, said Maran Govindasamy.