Move to reduce govt stake in PSB to less than 51% will be resisted: Cong

Q: How long will it take to read this news story?

The story "Move to reduce govt stake in PSB to less than 51% will be resisted: Cong" has 559 words across 21 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Move to reduce govt stake in PSB to less than 51% will be resisted: Cong" was covered 11 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 269 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #21681621</li><li>URL: https://beamstart.com/news/move-to-reduce-govt-stake-17213712258751</li></ul>

Business Standard Logo Business Standard 11h ago

Move to reduce govt stake in PSB to less than 51% will be resisted: Cong - Business Standard

Quick Summary:

Congress general secretary in-charge communications Jairam Ramesh recalled that on this day 55 years ago, then prime minister Indira Gandhi had moved decisively to nationalise 14 banks and opened a whole new chapter in India's economic history.

The party asserted that the mergers in the public sector banking industry in the last seven years have been broadly accepted only because the Union government's share was not to be reduced to below 51 per cent.

The Congress on Friday said any move to bring down the Union government's stake in 12 public sector banks to less than 51 per cent would continue to be resisted forcefully both in Parliament and outside.