Modi government plans privatization of banks

The Narendra Modi government at the Center has accelerated the privatization process of at least 4 major state-run banks in the country.The government holds a large stake in Punjab and Sindh Bank, Bank of Maharashtra, UCO Bank and IDBI Bank and now wants to sell it. The central government's plan is to privatize many state-owned banks and fund a big budget by selling stakes in some banks.
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