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Govt shortlists four mid-sized state-run banks for privatisation: Report

The four banks on the shortlist are Bank of Maharashtra , Bank of India, Indian Overseas Bank and the Central Bank of India

Topics
Banks privatisation | Modi govt

Manoj Kumar Aftab Ahmed & Swati Bhat | Reuters  |  New Delhi | Mumbai 

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. The four banks on the shortlist are Bank of Maharashtra , Bank of India, Indian Overseas Bank and the Central Bank of ...

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First Published: Mon, February 15 2021. 17:22 IST
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