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  • 02/02/2018 12:04:00

    Committed to bank consolidation and privatisation of IDBI bank: Jaitley

    Finance minister Arun Jaitley on Friday said the government is committed to consolidation of banks and privatisation of IDBI Bank. "I stand by both these announcements and will happen at appropriate time once the financial health of the banks strengthen," he said.Jaitley argued that merging two weak banks or merging a weak with a strong banks is not an option.A day after presenting the budget 2018-19, Jaitley said the government initially considered adopting a universal approach for health insurance scheme but settled for a bit limited coverage, given the fiscal ambiguity over it. He announced the scheme in the Budget for providing health cover to 10 million households or 50 million peopole, constituting roughly 40 per cent of the country. The scheme which is expected to be launched in FY19, is expected to be entirely state funded. "A social security regime is beginning to take shape in India," Jaitley said. "As of now, Rs 20 billion has been provided for the scheme" he added. ...

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