Government Nod For Privatization of Seven PSBs

The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, the report said

Finally the cat is out of the bag with government sources indicating that 7 out of 12 Public Sector Banks (PSBs) will be privatized and the government will keep control on only 5 PSBs. Watch Vivek Avasthi in Straight Talk with Sanjay Das, General Secretary, West Bengal of All India Bank Officers’ Confederation, Dilip Singh, General Secretary, Uttar Pradesh of All India Bank Officers’ Confederation and Alok Joshi, senior journalist and former Editor of CNBC – Awaaz.

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