Indian government enlists Goldman Sachs for bank stake sales
Business
The Indian government just brought in Goldman Sachs to guide its stake sale in four public sector banks: Indian Overseas Bank, Central Bank of India, UCO Bank, and Punjab & Sind Bank.
Right now, the government owns over 90% of each. This move is part of a bigger plan to open up these banks to more private investment.
Role of Goldman Sachs in this process
Goldman Sachs will help find new investors and make sure the deals go smoothly.
Beyond raising money, the goal is to bring these banks closer to required public shareholding norms (they've been exempt until August 2026).
The hope? More private participation.