Bank Selling Update: In response to a question in the Lok Sabha, the Minister of State for Finance gave information regarding disinvestment.
The Minister of State for Finance said that till December 13, Rs 10,050 crore has been raised from disinvestment. At the same time, the government said that the process of investment of IDBI Bank is going on. The central government has 45.48% stake in IDBI Bank and the government is preparing to sell 30.48% of it. Apart from this, LIC also has 49.24% stake in the bank. LIC is working on a plan to sell about 30.24% stake in this bank. The performance of the bank has been good in the July-September quarter. During this period, there was a big increase in the profits and net interest income of the bank. Profit has increased to Rs 1323.3 crore, which was Rs 828.1 crore in the same quarter a year ago.
Know which bank is preparing to sell!
The proposal for strategic disinvestment of 23 government companies is with the Disinvestment Department. 5 out of 23 companies are being considered for closure. The companies whose disinvestment process is going on include BEML, SCI, IDBI Bank. Disinvestment of different units of ITDC is going on under the nodal ministry.
Another big news regarding banks -Sources told CNBC Awaaz that the agenda of the parliamentary committee meeting on bank merger has been changed. Now instead of merger, only the functioning of banks will be discussed. Actually news has come that preparations for merger of public sector banks have started again. Let us tell you that there can be discussion on the merger of Union Bank and UCO Bank. There can be discussion on merger between Bank of India and Bank of Maharashtra.
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