MUMBAI (Reuters) - India is considering raising foreign ownership in private banks to 100 percent, the Economic Times reported on Thursday, citing a senior government official.
The measure to hike foreign ownership in private banks from the current 74 percent is being discussed by the finance ministry, the department of industrial policy & promotion (DIPP) and the Reserve Bank of India, the newspaper said.
One of the options being considered is allowing an additional 26 percent increase through the approval route, the newspaper said.
A response from the finance ministry is awaited, the newspaper reported the official as saying.
(Reporting by Karen Rebelo in Mumbai; Editing by Sunil Nair)
