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finance | IST

Government proposes to privatise IOB, Central Bank of India; details here

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CNBC-TV18 has learnt that government has proposed privatising Indian Overseas Bank (IOB) and Central Bank of India. The first important leg in terms of the banking amendments is likely to go through in the current session of the Parliament, at least the proposal to bring the bill in the Parliament.

CNBC-TV18 has learnt that government has proposed privatising Indian Overseas Bank (IOB) and Central Bank of India.
The first important leg in terms of the banking amendments is likely to go through in the current session of the Parliament, at least the proposal to bring the bill in the Parliament.
One needs to see whether it is referred to a Standing Committee or if it sails through without that. Depending on the same, the privatisation exercise of banks will go forward.
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It depends now on how quickly the banking amendments move and when the government will be ready to do the transaction.
This privatisation is unlikely to happen in the current financial year at least.
Watch the accompanying video of CNBC-TV18’s Sapna Das for more details.