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Reports suggest that an amendment will be moved in the next session of parliament to smoothen the government's complete exit from the public sector banks that are being put up for sale. ....
Centre To Expedite Process To Privatise Two Public Sector Banks: Report swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.
Synopsis Bank of Maharashtra, Bank of India, and IOB are the frontrunners for being privatised. Central Bank of India may be taken up based on its financial recovery. Punjab & Sind Bank and UCO Bank, the other two lenders that were not merged as a part of the public sector bank consolidation, are not being considered for privatisation yet, officials said. Agencies Banks will be nudged to exit their non-core businesses to improve their financials before privatisation The government plans to dress up state run lenders’ balance sheets through capital support and sale of non-core assets among other measures before putting them on the block. The transformation plan also includes transfer of impaired loans to the proposed bad bank and reducing employee count by offering attractive voluntary retirement schemes, officials aware of the developments said. ....
Updated Apr 16, 2021 | 14:25 IST The government wants to iron out all policy-related niggles in bank privatisation to ensure a seamless process before it sends out an investment invite. PSB privatisation New Delhi: The government is actively looking for ways to elicit strong interest from investors for state-run banks that are up for privatisation. Acquirers may be allowed to hold a minimum 26% stake the bank and also be given a longer time frame to trim their stake down to 26%. The government believes this flexibility will help elicit a good response from investors, the Economic Times mentioned in a report. Currently, the government owns more than 51% stake in all public-sector banks, which means an investor acquiring them would need to cut down their holding over time. ....