Thread by @RameshC89161658

India is looking to privatise more than half of its state-owned banks to reduce the number of PSBs to just 5 as part of an overhaul of the banking industry,Govt and banking sources said. 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 &Punjab & Sind Bank, leading to an effective privatisatione of these banks, a Govt official said. "The idea is to have 4-5 PSBs," said one senior Govt official. At present, India has 12 PSBs.
-Economic Times

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