A planned consolidation in India’s state-run banking sector may lead to 10 to 15 lenders that are majority owned by the government, down from the current 21, a senior finance ministry adviser said on Friday. The government may cut its stakes in state-run banks to 52 percent, Sanjeev Sanyal, principal economic adviser at the finance ministry, told a World Economic Forum event in New Delhi. The government has previously said it was open to lowering its stakes in the banks, but would retain majority ownership. More funds will be injected into banks in the next few months, Sanyal also said.
World Economic Forum India Summit: Consolidation may lead to 10-15 state banks, says Sanjeev Sanyal
A planned consolidation in India's state-run banking sector may lead to 10 to 15 lenders that are majority owned by the government, down from the current 21, a senior finance ministry adviser said on Friday.

Get Live Share Market updates, Stock Market Quotes, and the latest India News and business news on Financial Express. Download the Financial Express App for the latest finance news. .
This article was first uploaded on October six, twenty seventeen, at fourteen minutes past two in the afternoon.