4 Public Sector Banks selected for Privatisation!
Posted on: 16/Feb/2021 1:36:45 PM
Information is gathered that the central government is planning to take the next step in the effort to privatise the public sector banks. The 1st The phase of this plan is the sales of the share of 4 public sector banks.
A senior official shared regarding this:
�The Central Government has decided to privatise some of the Public Sector undertakings as well as several banks. In the 1st Phase of this proposal/execution, 4 public sector banks are set to be privatised. The concerned banks are: Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India.
The Central Government has decided to complete the disposal of shares for at least 2 banks as mentioned above before the conclusion of the current financial year.
The Central Government desires to study the developments and situation initially disposing of the shares of the small and medium capacity banks. Depending on the extent of success in this operation of the small/medium bank share sales, the central government has planned the privatisation of the banks in the next phase.
However, the central government will continue and retain it is large share in large banks such as the country�s premier public sector bank, The State Bank of India.�
