The government has no immediate plan to offload its stake in the State Bank of India and the nod sought from parliament to sell up to 49 percent holding in the country's largest lender need not necessarily be acted upon. Finance Minister Pranab Mukherjee while introducing the amendment in the State Bank of India Act in the Rajya Sabha does not mean the government's stake will be flooded. He asserted under no circumstance will the government's stake fall below 51 percent because that is the minimum statutory requirement. The government currently holds 59.41 percent stake in the bank and opposition members, particularly those from Left parties, wanted to know the reason why the bill was being tabled when the intention was not to sell the state stake.
News On AIR | August 12, 2010 7:49 PM
No immediate plan to offload stake in SBI: Govt<br/>