Indian lawmakers initiate talks with financial sector starting January: Report

The agenda also includes a meeting with the Insurance Regulatory and Development Authority of India and four major insurance companies on 2 January.

In early 2024, an Indian parliamentary committee will consult with five insurance companies, four state-owned banks, and the central bank regarding insurance and banking banking and aws, including mergers and acquisitions, reported Reuters.

Informal talks are scheduled with UCO Bank and Union Bank of India on 2 January 2024, and Bank of Maharashtra and Bank of India on 6 January in Mumbai and Goa.

The agenda also includes a meeting with the Insurance Regulatory and Development Authority of India and four major insurance companies on 2 January.

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These discussions, confirmed by two anonymous finance ministry sources, are routine and not indicative of any new bank mergers, despite the government's 2019 consolidation of ten state banks into four.

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