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Government May Keep Large State-Owned Banks Under Its Control—BQ Exclusive
Department of financial services wants to retain large PSU banks. Three insurers have been shortlisted for privatisation.
08 Mar 2021, 11:59 AM IST ![NDTV Profit](/icons/feather-without-circle.svg)
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![The North Block of the Central Secretariat building, which houses the Ministries of Finance and Home Affairs, stands in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)](https://media.assettype.com/bloombergquint%2F2019-09%2F4f714d74-6714-46e1-bd2d-02fb05ee9103%2F231596704__1_.jpg?rect=0%2C416%2C4000%2C2250&auto=format%2Ccompress&w=200)
The North Block of the Central Secretariat building, which houses the Ministries of Finance and Home Affairs, stands in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)
The Indian government may potentially look at privatising as many as six state-owned banks, with an eye on selling stake in smaller-sized lenders.During deliberations on the new privatisation policy, unveiled by Finance Minister Nirmala Sitharaman in the Union Budget for 2021-22, the department of financial services in the finance ministry said India would need at least six large state-owned banks. India has a total of 12 state-owned...
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