Bangladesh, Sept. 2 -- Indian Finance Minister Nirmala Sitharaman on Friday announced her government's plan to merge 10 state banks into four entities.
The move came as India's public sector banks are hamstrung by bad loans, poor governance and a few loan scams. The latest move, thus, is seen as an inevitable one under the existing circumstances. These banks reportedly account for nearly two-thirds of banking sector assets in India.
Is the situation with the state-owned banks (SoBs) in Bangladesh anyway better? In fact, it is worse.
A few major loan scams involving the public sector lenders have shaken the country's banking industry. The size of classified loans in the SoBs is abnormally high. The situation has gone so bad that the gover...