Indian Banks' Push for M&A Funding: A New Era for Corporate Growth

The Indian Banks' Association (IBA) is set to formally request the Reserve Bank of India (RBI) for permission to allow banks to fund mergers and acquisitions of listed companies, as revealed by State Bank of India (SBI) Chairman CS Setty on Monday.

Setty urged the private sector to initiate investments for expanding capacity, highlighting that government efforts have already been made to stimulate consumption. He suggested that financing caps are currently being managed through internal accruals, equity, and debt markets.

Focusing on growth, the SBI chairman mentioned an emphasis on customer service, cybersecurity, and financial inclusion, while noting an increased focus on lending to small and micro enterprises.

(With inputs from agencies.)