With Parliament on Thursday passing an enabling bill for reduction of government stake in the country’s largest lender, decks have been cleared for the State Bank of India (SBI) to raise fresh funds from the capital market.
The Rajya Sabha approved the State Bank of India (Amendment) Bill providing for reduction of government equity to 51 per cent from a minimum of 55 per cent. The Lok Sabha has already passed the measure.
However, Finance Minister Pranab Mukherjee indicated the dilution of government stake would not be rushed through. “It is just an enabling provision and it does not mean that tomorrow it is going to be implemented,” he said replying to a debate on Bill.
