Government to privatise two psu Banks and One General Insurance company

The government will start the process of privatisation for two public sector banks in the coming financial year, Finance Minister Finance Minister said in her budget speech. However, the Minister did not disclose the names of the banks. The government currently holds majority stake in PSU banks. The government is expected to bring down the stake in the two PSU banks below 51 per cent or sell the entire stake to private ownership. Bank unions are likely to oppose the government’s initiative to privatise PSU banks.
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