Govt may cut its stakes in PSU banks to 52%, says Sanjeev Sanyal | Mint
Active Stocks
Wed Feb 21 2024 15:59:55
  1. Tata Steel share price
  2. 143.85 1.99%
  1. Bharti Airtel share price
  2. 1,139.75 -0.38%
  1. State Bank Of India share price
  2. 771.55 1.51%
  1. Power Grid Corporation Of India share price
  2. 280.15 -2.71%
  1. ITC share price
  2. 403.30 -0.68%
Business News/ Home Page / Govt may cut its stakes in PSU banks to 52%, says Sanjeev Sanyal
BackBack

Govt may cut its stakes in PSU banks to 52%, says Sanjeev Sanyal

Planned consolidation in PSU banks may lead to 10-15 lenders that are majority owned by govt, down from the current 21, says principal economic adviser Sanjeev Sanyal

A file photo of Sanjeev Sanyal, principal economic adviser at the finance ministry. Photo:Premium
A file photo of Sanjeev Sanyal, principal economic adviser at the finance ministry. Photo:

New Delhi: A planned consolidation in India’s state-run banking sector may lead to 10 to 15 lenders that are majority owned by the government, down from the current 21, a senior finance ministry adviser said on Friday.

The government may cut its stakes in state-run banks to 52%, Sanjeev Sanyal, principal economic adviser at the finance ministry, told a World Economic Forum event in New Delhi.

The government has previously said it was open to lowering its stakes in the banks, but would retain majority ownership.

More funds will be injected into banks in the next few months, Sanyal also said. Reuters

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 06 Oct 2017, 10:26 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App