23-Oct-2026 09:10:53
Centre Plans Stake Cuts in 4 PSU Banks to 75%; Central Bank, IOB in Privatisation Focus
The government is considering reducing its stake in Central Bank of India, UCO Bank, Punjab & Sind Bank and Indian Overseas Bank (IOB) to 75% within a year to meet minimum public shareholding norms. The stake sale may be conducted through offer-for-sale (OFS), depending on market conditions. Separately, NITI Aayog has reportedly shortlisted Central Bank of India and IOB as potential privatisation candidates. The government’s broader plan also includes consolidating public-sector banks to create three or four larger lenders.Source - ET