Banking Sector Reforms

India not ready to privatise public sector banks: Arun Jaitley

  1. Finance Minister: India has not reached the point where it can consider selling majority stakes in the public sector banks that control seven tenths of assets in the financial system
  2. Also, public or political opinion has not converged to the point where we can think of privatisation in the banking sector
  3. Govt is consolidating some of the public sector banks to strengthen them, but does not plan to reduce the state’s share below a threshold of 52%
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