Consolidation of banks is very vital from the points of view of building up volumes of business,achieving economies of scale,enlarging capital base,enhancing competitive strength,and creating and enhancing value for stake holders.So far the left parties opposed bank consolidation in India tooth and nail and as result the government could not go ahead with any plans in this regard.The people of India have totally disapproved the stand of the left and marginalised left parties.Now they are very weak and their voice is very feeble.At this stage the government must take up the task of consolidation of banks with all seriousness and go full steam ahead in this regard.
Alongside consolidation of banks there must also be efforts at consolidation of banking laws in India.Banking laws which stand scattered in several Acts must be consolidated and made available at one source through the enactment of a comprehensive banking legislation in India.Let us hope that the UPA government will take up this task with all enthusiasm and seriousness at the earliest.
