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Bank of India, three other public sector banks shortlisted for privatisation The four banks on the shortlist are Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India, two officials told Reuters on condition of anonymity as the matter is not yet public Reuters | February 15, 2021 | Updated 17:42 IST The government is considering mid-sized to small banks for its first round of privatisation to test the waters India's government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenu...

Two of those banks will be selected for sale in the 2021/2022 financial year which begins in April, the officials said. The shortlist has not previously been reported. The government, however, will continue to hold a majority stake in India`s largest lender State Bank of India, which is seen as a `strategic bank` for implementing initiatives such as expanding rural credit.

Modi's office initially wanted four banks to be put up for sale in the coming fiscal year, but officials have advised caution fearing resistance from unions representing the employees

The four banks on the shortlist are Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India, two officials told Reuters on condition of anonymity as the matter is not yet public.

By Manoj Kumar, Aftab Ahmed and Swati Bhat NEW DELHI/MUMBAI (Reuters) - India's government has shortlisted four mid-sized state-run banks for privatis...