Experts group will be set up to look into issues related to consolidation of public sector banks: Jaitley
Jaitley was replying to a question in a Press Conference after the conclusion of the Second Edition of the Bankers’ Retreat ‘Gyan Sangam 2.0’ at State Bank Academy at Gurgaon (Haryana) on Saturday.
The two- day Bankers’ Retreat was held on Mar 4 and 5.
Jaitley said that as part of strategy for consolidation of banks, an Experts’ Group would be constituted immediately to look into all the issues related to same.
Briefing the media after conclusion of the Second Edition of two day ‘Gyan Sangam’ in Gurgaon, Jaitley said that in order to expedite the process of recovery, need to amend the Debt Recovery Tribunal (DRT) Act and SARFESI Act was felt during the course of discussions in Retreat and Department of Financial Services (DFS) is looking into the same.
Jaitley said that Bankruptcy and Insolvency Law may also be through in second part of the current Budget Session.
The event built on the experience gained and progress made since First Gyan Sangam, held in January,2015 in Pune.
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