Government to identify anchor banks by October 2016

Q.  What are anchor banks?
- Published on 08 Mar 16

a. A type of public sector bank
b. PSB driving consolidation process among state owned banks
c. Both a and b
d. Neither a nor b

ANSWER: Both a and b
 
Government will identify 6 to 10 public sector banks driving the consolidation process among state owned banks. These anchor banks will be identified by October 31, 2016. Large banks like PNB and SBI could become anchor banks. Recently constituted Bank Board Bureau will also help in the process of consolidation.

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