Lower Govt Bank Stakes To Free Interest Rates

The Centre was working towards reducing its stake in the public sector banks and institutions to 33 per cent to obliterate financial intermediation that caused difficulties in reducing interest rates, said N K Singh, Planning Commission member, here today.

Speaking at the manufacturing summit, organised by the Confederation of Indian Industry (CII), Singh said it would be difficult to reduce interest costs without doing away with the cost of inefficient financial intermediation.