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Business Line

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Govt looking to cut stake in public sector banks to 52%, says Jaitley

Government looking to reduce its stake in State-run banks to 52 % to make them more professional and independent.Government owns over 59 per cent stake in SBI, 81.5 per cent in Central Bank of India, 76.5 per cent in IDBI Bank, 64.5 per cent in Canara Bank, 64.4 per cent in Bank of India, 61 per cent in Andhra Bank,60 per cent each in Allahabad Bank and Punjab National Bank, and 57.5 per cent in Bank of Baroda.