The Finance Ministry is considering the approval of such 4 to 5 proposals for the merger of government banks. The ministry can approve the merger of these banks till the current financial year. The Government’s plan is to create 4 to 5 global level banks of the world from the merger of banks.

Like many industry associations and others, the Ministry of Finance has received many products from outside the realm of GST or minimum tax demand. But, the Ministry is in favor of keeping the list of exemptions short.