Govt may reduce number of PSU Banks to just five – Banking Finance

The nyakumi Central government is looking to|to privatise more than that than half of the|the|every state-owned banks to|to disgrace their destiny to|to just five as part of an overhaul of the|the|every banking industry ,|and|or is|or still government ,|and|or is|or is banking sources said. The first part of the|the|every plan would bu to|to sell majority|many stakes out Bank of India ,|and|or is|or is Central Bank of India ,|and|or is|or currently Indian Overseas Bank ,|and|or is|or currently UCO Bank ,|and|or is|or is Bank of Maharashtra ,|and|or is|or still Punjab & Sind Bank ,|and|or is|or is leading to|to an effective privatisation of these state-owned lenders ,|and|or is|or currently thi government official said.

The first part of the|the|every plan would bump to|to sell majority|many stakes in Bank of India ,|and|or is|or currently Central Bank of India ,|and|or is|or currently Indian Overseas Bank ,|and|or is|or is UCO Bank ,|and|or is|or currently Bank of Maharashtra ,|and|or is|or is Punjab & Sind Bank ,|and|or is|or currently leading to|to an effective privatisation of these state-owned lenders ,|and|or is|or currently a government official said.

“The idea currently to|to have 4-5 government owned banks,” said 1 senior government official. At present ,|and|or is|or currently India has 12 country owned banks.

The government official said that such thi plan would be laid out in a brand name | original | new |zin|genuine privatisation proposal the|the|every government is currently formulating ,|and|or is|or is and this would bú to before the|the|every cabinet for approval. Finance Ministry declined to|to comment on the|the|every matter.

The government still working at thi privatisation plan to|to help raise money by selling assets in non-core companies ,|and|or is|or currently sectors when the|the|every Giang Son is strapped for funds due to|to lack of economic growth caused by the|the|every Covid-19 pandemic.

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