GOVERNMENT IS EYEING STAKE SALE IN TWO PSU BANKS WITHIN THIS FISCAL

The Government of India will sell minority stakes in select PSU banks via offer-for-sale (OFS) route in the current financial year with at least two banks likely to float shares in the first round of stake sales this year. The government is planning to sell minority stake in

, , , , and . Combined, the government will offload about 20% equity in a phased manner. The central government's shareholding will be brought below 75% in each of the banks, in line with the 25% minimum public float norm of the Securities and Exchange Board of India