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Topic : banking & insurance industry
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Should government let its stake in public sector banks fall below 50 per cent?

Created by : Jyoti Rath, Sr. Associate, Barclays  | 07 23 2009 08:04:54 +0000
Keywords : equity stake fiscal deficit public sector bank state bank of india
Activity:  598 views;  last activity : 07 06 2010 20:18:09 +0000

Dear friends, it seems the government may let its stake in State Bank of India fall by 4.4 percentage points to 55%, as the country's top lender looks to raise equity this year.

The government's shareholding could be lowered through an issue of new capital that the government did not subscribe to, or it could sell of some of its shares.The government will have to take the approval of the cabinet to reintroduce the bill in parliament

In this condition, do you think govnment should let its stake in public sector banks fall below 50 per cent?

  
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No the govt should not let the stake go below 50% in the public sector companies, as these are the Ratna's of India and should not let down these Ratna's to go in the hand of the private players as it has been nurtured by and for the Indian public and their betterment.

On the other hand these companies are in well developed stage where even if they want to raise money they can issue additional equity from public as these are the reputed govt companies.
By Darshil , CEO/MD/Director, Darshil Cotton Company  | 07 23 2009 11:02:32 +0000
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The ownership of public sector banks has remained with the government, and should remain with the government and also with the fiscal deficit, it will be hard to raise money.It is the strong government shareholding in the public sector banks that has actually enabled the banks in the country to tide over the economic downturn that had gripped the European and American economies
By Jyoti Rath, Sr. Associate, Barclays  | 07 23 2009 09:10:58 +0000
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