No immediate plan to offload stake in SBI
The government has no immediate plan to offload its stake in the State Bank of India and the nod sought from Parliament to sell-up to 49 per cent holding in the country’s largest lender need not necessarily be acted upon. Finance Minister Pranab Mukherjee said this while introducing the amendment in the State Bank of India Act in the Rajya Sabha on Thursday. He asserted under no circumstance will the government’s stake fall below 51 per cent because that is the minimum statutory requirement. The government currently holds 59.41 per cent stake in the bank and opposition members, particularly those from Left parties, wanted to know the reason why the Bill was being tabled when the intention is not to sell the stake of the government.
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