Centre readies plan to sell up to 20% in five public-sector banks

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Centre readies plan to sell up to 20% in five public-sector banks - Business Standard

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To dilute up to 20 per cent of its stake in each of five public-sector banks (PSBs) over the next four years, the Union government is developing a road map in consultation with the Department of Investment and Public Asset Management (Dipam), the Department of Financial Services (DFS), and state-run lenders, according to a senior government official.“This will be done to comply with the Securities and Exchange Board of India’s (Sebi’s) minimum public-shareholding norms.