What is the Intake of Government in the Public Sector Banks of India?
Speaking at the Indian Banks’ Association’s annual general meeting, Arun Jaitley said that “The government is looking to reduce its stake in State-run banks to 52 per cent to make them more professional and independent.” At present, the government owns over 59 per cent stake in State Bank of India, the country’s largest public sector lender, 81.5 per cent in Central Bank of India, 71.7per cent in IDBI Bank.
The main motive behind the reducing the stake of government in the Public Sector Banks (PSBs) is that government want to reduce the political pressure on the decision making capability of the banking sector so that they can compete with global banks.
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Money Supply and Inflation
| Government’s Shareholding in Public Sector Banks (As on September 28, 2015) |
||
| S.No. |
Name of the Bank |
Total Government and RBI (% share) |
| Nationalised Banks |
||
| 1. |
Allahabad Bank |
55.2 |
| 2. |
Andhra Bank |
58.0 |
| 3. |
Bank of Baroda |
55.4 |
| 4. |
Bank of India |
64.1 |
| 5. |
Bank of Maharashtra |
81.2 |
| 6. |
Canara Bank |
64.5 |
| 7. |
Central Bank of India |
81.5 |
| 8. |
Corporation Bank |
59.8 |
| 9. |
Dena Bank |
55.2 |
| 10. |
IDBI Bank Limited |
71.7 |
| 11. |
Indian Bank |
80.0 |
| 12. |
Indian Overseas Bank |
73.8 |
| 13. |
Oriental Bank of Commerce |
58.0 |
| 14. |
Punjab & Sind Bank |
79.9 |
| 15. |
Punjab National Bank |
57.9 |
| 16. |
Syndicate Bank |
66.2 |
| 17. |
UCO Bank |
69.3 |
| 18. |
Union Bank of India |
57.9 |
| 19. |
United Bank of India |
82.2 |
| 20. |
Vijaya Bank |
55.0 |
| 21. |
SBI |
59.0 |
| 22. |
State bank of Bikaner and Jaipur |
- |
| 23. |
State of Bank of Hyderabad |
- |
| 24. |
State Bank of Mysore |
- |
| 25. |
State Bank of Patiala |
- |
| 26. |
State Bank of Travancore |
1.0 |
Note: SBI board had, on May 17 2016, cleared a proposal to merge its five associate banks and Bharatiya Mahila Bank with itself. Government of India also approved the same in the June. Now the current position of SBI at the global arena stands as follows…
Image source: http://www.thehindubusinessline.com
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