Bank of India, three other public sector banks shortlisted for privatisation
The four banks on the shortlist are Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India, two officials told Reuters on condition of anonymity as the matter is not yet public
Reuters | February 15, 2021 | Updated 17:42 IST
The government is considering mid-sized to small banks for its first round of privatisation to test the waters
India s government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, three government sources said.
Privatisation of the banking sector, which is dominated by state-run behemoths with hundreds of thousands of employees, is politically risky because it could put jobs at risk but Prime Minister Narendra Modi s administration aims to make a start with second-tier banks.