2 banks not for sale as of now #bechdo - YP Buzz

 YP Buzz - 

                        The Finance Department has not yet finalized the procedures for obtaining a permit from sales attorneys, which leaves little time for the process to be completed this year, the report said.

                                  
Nirmala Sitaraman

India's plan to sell two state-owned lenders could be postponed to next financial year as the government has yet to demand that parliament decide on changes to the rules needed to begin transactions, according to people used to with the matter.

The Finance Department has not yet finalized the procedures for obtaining approval from commercial attorneys, which leaves little time for the process to be completed this year, people said, requesting anonymity as the details were not available to the public. The government will be looking for buyers for two state-owned banks in March 2022, Finance Minister Nirmala Sitharaman said in February, while outlining the national budget for the financial year starting April 1.

India's plan to sell a number of shares in the country's second-largest refinement platform has declined, and transactions are only possible early next year than in 2021, Bloomberg News reported in July. Managers may also continue to sell other assets, including Life Insurance Corp. of India’s first public offering, which would help the country’s efforts to raise funds to make any tax revenue fall this year.


Thanks & Regards

 YP Buzz

Post a Comment

0 Comments

-->