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State banks must merge: FM

Source: PTI

March 24, 2005 11:40 IST

Finance Minister Palaniappan Chidambaram said on Thursday state-run banks needed to consolidate to add financial strength to their operations.

"Consolidation will add size, scale, technology to your bank. Fears that there will be job losses are not justified. Jobs will be created," Chidambaram told a banking conference.

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