Follow Us:
Wednesday, July 18, 2018

Govt to up stake in PSBs: Gopalan

The government intends to increase its holding in public sector banks in which it currently holds just over 50 pct stake.

Written by Agencies | Mumbai | Published: June 28, 2010 7:13:59 pm

To facilitate fund-raising in the future,the government intends to increase its holding in those public sector banks in which it currently holds just over 50 per cent stake,a senior finance ministry official said here on Monday.

“We are looking at increasing government holding in those state-run banks where the government has just over 50 per cent holding. At some point of time in the future,if they want to raise capital,this will help them,” Financial Services Secretary R Gopalan told reporters here.

The second phase of capital infusion into public sector banks will be done in due course,he said,adding the government has not worked out its modalities as yet.

On the base rate,he said,the new lending rate system will be implemented from July 1.

For all the latest News Archive News, download Indian Express App

Advertisement
Advertisement
Advertisement