Since the onset of reforms, there have been about 32 mergers / amalgamations in the banking sector. Prior to 1999, most of the mergers were driven by resolution of weak banks under Section 45 of Banking Regulation Act 1949. However, after 1999, there has been increasing trend of voluntary mergers under Section 44A of Banking Regulation Act 1949.
As another important part of implementation monitoring, the International Monetary Fund together with the World Bank is regularly assessing the adherence of its member countries to international standards. Thereby, the Fund is promoting international monetary cooperation and exchange rate stability.