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What is the Intake of Government in the Public Sector Banks of India?

14-JUL-2016 10:16

    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.

    To read more click below:

    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…

    Jagranjosh

    Image source: http://www.thehindubusinessline.com

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