Divestment Continues, It’s Turn of Central Bank & Indian Overseas Bank

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Image Source: Business Standard 

Government is planning to privatize two banks Central Bank of India (CBI) & Indian Overseas Bank(IOB), says the report of NITI Aayog. IOB might see 51% sale in the first phase of divestment, says CNBC Awaaz report. Process of privatization will be continued once names get finalized by a group of secretaries headed by Rajiv Gauba, the cabinet headed by the PM will make it final. Government is also planning to amend the Banking Regulations Act and Banking Law Act during the monsoon season.

Kunal Kushwaha is the Founder of Surkhiyaa. He is an aspiring journalist who looks forward to provide unbiased and precise information. He strives to create Surkhiyaa as a platform that acknowledges core journalistic ethics. Kunal Kushwaha can be reached out kkunal.kushwaha.17@gmail.com

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