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Central Bank of India, Indian Overseas Bank shortlisted for divestment

The Centre has reportedly shortlisted Central Bank of India and Indian Overseas Bank for divestment

June 21, 2021 / 03:39 PM IST
(Image: Reuters)

(Image: Reuters)

 
 
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The Centre has shortlisted Central Bank of India (CBI) and Indian Overseas Bank (IOB) for divestment, CNBC Awaaz has reported.

The two state-run banks might see 51 percent sale in the first phase of disinvestment.

The government will amend the Banking Regulations Act, and some other banking laws for divestment, the news channel reported.

Following the news, shares of CBI and IOB surged 20 percent on June 21.