Financial Insights

IOB, Central Bank of India share prices rise 15-20% on privatization buzz

The two state-run banks might see 51 percent stake sale in the first phase of disinvestment.

Indian Overseas Bank and Central Bank of India share prices rose 15-20 percent in the early trade on November 24 as news report suggests the government has proposed Banking Amendments for Winter Session of Parliament to enable PSB privatization.

The government plans to privatize Indian Overseas Bank and Central Bank of India. The government has proposed banking amendments for winter session to enable PSB privatization, reported CNBC-TV18 quoting Sources.

Central Bank of India and Indian Overseas Bank were in focus since the Cabinet Secretary-led panel selected the banks for privatization.

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