Prime Time Zone, Webdesk: In the wake of recent developments, if the government withdraws its stake in Bank of India (BOI) and Indian Overseas Bank (IOB) altogether, it will be around Rs. Care Ratings estimates that it could raise Rs 28,600 crore. In 2021-22, Rs. It is learned that the government intends to privatize two public sector banks as part of an investment mobilization of Rs 1.75 lakh crore. Signs were heard that four banks had been selected for privatization on Monday in this order.
In this order Care Ratings analyzed the government shares in these banks. Accordingly, if the government reduces the government’s stake in BOIs and IOBs to 51 per cent, Rs. 12,800 crore. Similarly, Bank of Maharashtra (BOM), which has similarly reduced its stake in Central Banks to 51 per cent to Rs. 6,400 crore can be collected. At present, the government holds 95.8 per cent stake in IOB, 92.5 per cent in BOM, 92.4 per cent in Central Bank and 89.1 per cent in BOI. ‘IOB has the highest equity capital. BOI has the highest market value compared to other banks, ”said Madan Sabnavis, Chief Economist, Care Ratings.
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