In all these cases, the weak or financially distressed banks were amalgamated with the healthy public sector banks. The over-riding principles governing the consideration of the amalgamation proposals were: (a) protection of the depositors’ interest; (b) expeditious resolution; and (c) avoidance of regulatory forbearance.
India’s exports have been in contraction mode for fourteen successive months although there are indications of a sequential bottoming out. While the CAD has improved, the external sector has been contracting. Though India’s foreign exchange reserves are at almost record high levels, the external sector vulnerabilities have not completely disappeared.