Indian government to cut ownership in 4 banks to 75%
Business
The Indian government is planning to lower its ownership in four public sector banks (Central Bank of India, Uco Bank, Punjab & Sind Bank, and Indian Overseas Bank) to 75%.
This move is mainly to meet stock market rules that require more public shareholding.
Privatisation drive could target 2 banks
By opening up these banks to more public investment, the government hopes to attract new investors and improve their valuation.
It's also part of a bigger push toward privatizing and streamlining state-run banks.
Central Bank of India and Indian Overseas Bank could be among the two candidates for privatization, but any big changes will depend on market conditions and legal updates.