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IOB, Central Bank of India, Bank Of India share prices up 7-14% on privatization buzz

Sources hoping to bring banking, insurance law amendments in next parliament session for privatization to move ahead, Source said.

June 07, 2021 / 03:25 PM IST
 
 
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Shares of Indian Overseas Bank (IOB), Central Bank of India and Bank Of India (BoI) rose 7-14 percent intraday on June 7 as these companies are the suitors for the privatization.

IOB, Central Bank of India, Bank Of India are the suitors for the privatization and the government is not adhering to a PCA/non PCA criterion for public sector banks privatization, reported CNBC-TV18, quoting Sources.

The government is open to options outside NITI recommendations on the bank, insurance companies privatization, it added.

Sources hoping to bring banking, insurance law amendments in next parliament session for privatization to move ahead, Source added.

Indian Overseas Bank was quoting at Rs 21.40, up Rs 2.15, or 11.17 percent and Central Bank of India was quoting at Rs 23.10, up Rs 1.80, or 8.45 percent. Bank Of India was quoting at Rs 85.20, up Rs 2.90, or 3.52 percent.
Moneycontrol News
first published: Jun 7, 2021 03:25 pm

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