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IFCI, PNB merger a `win-win' situation

NEW DELHI, JAN. 31. IFCI and Punjab National Bank merger would be a `win-win' situation for both the financial institution and the PSU bank as the former would act as an investment banking division of PNB, a top IFCI official said today. IFCI would also launch another VRS to restructure its manpower before the entity was merged with PNB by the end of this fiscal, the outgoing Chairman of IFCI, V. P. Singh, told reporters here. He said IFCI could bring the skill and expertise of investment banking to PNB. — PTI

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