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Impact of Privatization on Indian Banking

Impact of Privatization on Indian Banking

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Published by: jimjimmy493515 on Oct 16, 2009
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05/14/2013

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IMPACT OFPRIVATIZATIONON INDIANBANKING
 
SBI enjoys a monopoly of the government business.
SBI was formed under the SBI Act in 1955. Thegovernment hold around 93% of the equity, leaving7% to private ownership. By this act the equity of RBIcannot be diluted below 55%.
This act was outdated and needs to be re-addressed.However, efforts were initiated by SBI to privatize itsnon – banking subsidiaries like SBI Caps, SBI FundsManagement etc, where SBI’s holding is about 85%of the equity.
 
Later Indian government announced itsdecision to reduce its stakes in publicsector banks to 33%.
Are the banks really sick? The answer isNo. Public sector banks are making profits.Even the loss-making banks like UCO bankhave turned the corner in recent years.Then why this outcry of privatization.

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