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Sep 13, 2014
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FinMin to seek Cabinet nod to bring stake in banks to upto 52%
The Finance Ministry is finalising the draft Cabinet note on reducing government stake in PSU banks to up to 52 percent as part of recapitalisation drive.In 2010, the then Cabinet had approved a proposal to keep the minimum shareholding of government to 58 percent in the public sector banks in order to provide buffer for the future.A draft note is now being finalised for taking blanket approval from the Cabinet to bring down government the minimum stake in state-owned banks from 58 percent to up to 52 percent as and when required. It would soon be circulated to different ministries for their feedback, sources said.
Source -
http://zeenews.india.com
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