We would set up a Technical Committee, including international and national consultants to provide free consultancy services to banks intending to merge or that are involved in acquisitions. The gamut of incentives and guidelines would be out within one month. We welcome your suggestions on the way forward. Banks that merge and meet the minimum capital base by March 2005 will be rewarded.
I am aware of the fact that this measure may not be very popular with some owners and managers of banks. I understand our cultural environment, and the mindset whereby many people prefer to own “100 percent of barely nothing” by way of family businesses rather than “1 percent of something”.