Indian lawmakers initiate talks with financial sector starting January: Report

The agenda also includes a meeting with the Insurance Regulatory and Development Authority of India and four major insurance companies on 2 January.

In early 2024, an Indian parliamentary committee will consult with five insurance companies, four state-owned banks, and the central bank regarding insurance and banking banking and aws, including mergers and acquisitions, reported Reuters.

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Informal talks are scheduled with UCO Bank and Union Bank of India on 2 January 2024, and Bank of Maharashtra and Bank of India on 6 January in Mumbai and Goa. 

The agenda also includes a meeting with the Insurance Regulatory and Development Authority of India and four major insurance companies on 2 January. 

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These discussions, confirmed by two anonymous finance ministry sources, are routine and not indicative of any new bank mergers, despite the government's 2019 consolidation of ten state banks into four.