Lok Sabha Question No. 1250 (UNSTARRED), answered on 2023-12-11
Subject: Shares of Pubic Sector Banks
Ministry: FINANCE
Asked by: K. Subbarayan

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UNSTARRED QUESTION NO. 1250

Answered on the December 11, 2023/Agrahayana 20, 1945 (Saka)

## Shares of Public Sector Banks

## 1250.  SHRI SUBBARAYAN K.:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government is considering a proposal to sell some shares of prominent Public Sector Banks (PSBs);
- (b) if  so,  the  details  of  the  Government  stake  in  each  of  the  PSBs  at  present  and  the percentage of the shares proposed to be sold; and
- (c) the reasons for taking such a decision to disinvest a part of the Government stake in the Public Sector Banks?

## ANSWER

## THE MINISTER OF STATE FOR FINANCE (DR. BHAGWAT KARAD)

(a) to (c): In the Union Budget for the financial year 202122, Government's intent to take up privatisation  of  two  Public  Sector  Banks  (PSBs)  and  approval  of  a  policy  of  strategic disinvestment of Public Sector Enterprises was announced. As per the highlights of the policy, the objectives of the policy include enablement of growth of public sector enterprises through infusion of private capital, thereby contributing to economic growth and new jobs, and financing of social sector and development programmes of the Government.

The details of the shareholding of Government of India in each of the PSBs as on 30.11.2023 is at Annex.

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## Lok Sabha Unstarred Question no. 1250, regarding 'Shares of Public Sector Banks' for answer on 11.12.2023

## Details of the shareholding of Government of India in each of the PSBs as on 30.11.2023

|                       | Shareholding as a %of total no. of shares          | Shareholding as a %of total no. of shares   |
|-----------------------|----------------------------------------------------|---------------------------------------------|
| Bank                  | of which, Government of India (President of India) | Public &other shareholders                  |
| Bank of Baroda        | 63.97                                              | 36.03                                       |
| Bank of India         | 81.41                                              | 18.59                                       |
| Bank of Maharashtra   | 86.46                                              | 13.54                                       |
| Canara Bank           | 62.93                                              | 37.07                                       |
| Central Bank of India | 93.08                                              | 6.92                                        |
| Indian Bank           | 79.86                                              | 20.14                                       |
| Indian Overseas Bank  | 96.38                                              | 3.62                                        |
| Punjab National Bank  | 73.15                                              | 26.85                                       |
| Punjab & Sind Bank    | 98.25                                              | 1.75                                        |
| State Bank of India   | 56.92                                              | 43.08                                       |
| UCO Bank              | 95.39                                              | 4.61                                        |
| Union Bank of India   | 76.99                                              | 23.01                                       |

Source: PSBs

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