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Reports suggest that an amendment will be moved in the next session of parliament to smoothen the government's complete exit from the public sector banks that are being put up for sale.
Should the primary savings vehicle of the Indian people be sold in such a hurry?
The government is likely to sell 3.5 per cent of LIC shares and LIC IPO is expected to fetch at least Rs 21,000 crore.
Highlights The Centre is looking to privatise two public sector banks and one general insurance company. Sitharaman aspires that Indian banks need to be bigged, just like the State Bank of India (SBI). New Delhi: Niti Aayog on Thursday (June 3) submitted the names of Public Sector Undertaking (PSU) to be privatised to the Core Group of Secretaries on Disinvestment. All the PSBs in the list will be privatised by FY22, as part of the government’s massive disinvestment process aimed at raising funds. "We have submitted the names (of PSU banks) to the Core Group of Secretaries on Disinvestm...
The authorised share capital of LIC shall be Rs 25,000 crore divided into 2,500 crore shares of Rs 10 each, as per the amendments proposed in the Life Insurance Corporation Act, 1956