Govt to remove 20% cap on foreign ownership in PSU banks
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As per some latest reports, the government of India has now started inviting bids from many companies for their privatization.
Additionally, the process of privatization of PSBs is also on the verge of beginning, despite the strikes being held against it.
As per reports, the government will probably remove the 20 percent cap on foreign ownership in PSU banks (PSBs) which will be done by amending the Banking Regulation Act.
As per some sources, two public sector banks have also been shortlisted for privatization.
Whereas, some media reports have confirmed that these major changes may take some time, as revealed by a few government officials.
Some government officials have confirmed that the Indian Overseas Bank and Central Bank of India are the two candidates who can be privatized. Additionally, the Bank of Maharashtra is also on the list.
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