India plans to reduce number of PSU banks to just five state banking sources

India plans to reduce number of PSU banks to just five state banking sources

As per banking sources, India is looking to privatize more than half of its PSU banks to reduce the number to just five as part of restructuring the banking industry. The first part of the plan would be to sell majority stakes in BOI, Central Bank of India, IOB, UCO Bank, BOM and Punjab & Sind Bank, leading to an effective privatization of these PSU’s. India’s FM declined to comment on the matter.

Milan
Milan
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