 "Axis Bank")
In its effort to meet disinvestment targets, the central government may further pare its stake in Axis Bank held through Specified Undertaking of the Unit Trust of India (SUUTI) this fiscal year (2020-21, or FY21). The proposed move may fetch the government around Rs 2,300 crore.
The Centre has cut its disinvestment target for 2020-21, from Rs 2.1 trillion to Rs 32,000 crore.
The plan is to sell an additional 1-2 per cent stake in India’s third-largest private sector lender in FY21 in tranches, revealed a senior government official. If the government is not able to sell 2 per cent of its
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