Highlights
Govt considering mid-sized to small banks.
First round of privatisation to test waters.
New Delhi: Government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, news agency Reuters quoting government sources said.
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. Two of those banks will be selected for sale in the 2021/2022 financial year which begins in April, Reuters reported.
Stocks BOI, IOB, Bank of Maharashtra, Central Bank of India shares rally over 10% each: Here s why
Updated : February 16, 2021 11:28 AM IST
Government sources told CNBC-TV18, that the media report of government shortlisting four mid-sized state-run banks for privatization were not correct. share
Share prices of Bank of India, Bank of Maharashtra, Indian Overseas Bank and Central Bank of India rallied more than 10 percent each in early trade on Tuesday amid reports that the government may privatise these banks.
The government has shortlisted these four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, news agency
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.
Read more about PSBs jump on privatisation buzz; Bank of Maharashtra, IOB hit upper circuit on Business Standard. In February so far (till Monday), the Nifty PSU Bank index has rallied 16.4 per cent as compared to a 7.2 per cent gain in the benchmark Nifty50