LET BANKS DECIDE ON MERGERS

The Economic Times, in its Editorial, has opined that mergers of Public Sector Banks must be board-driven, based on commercial considerations, not bureaucratic fancy. In contrast, merger between India's Public Sector Banks, whether New Bank of India's takeover by Punjab National Bank in the early 1990s or the aborted merger of IFCI with PNB, have been driven by the bureauctratic urge to meddle
Source: http://economictimes.indiatimes.com/opinion/editorial/Let-banks-decide/articleshow/5248787.cms