Government is in the process of lowering its stake in public sector banks (PSBs) below 75%, for complying with SEBI’s norm of minimum public shareholding of 25% of the listed companies.

The 8 PSBs where the government holding is more than 75% at the end of September are United Bank of India, Indian Bank, Bank of Maharashtra, Central Bank Of India, Punjab and Sind Bank, Indian Overseas Bank, UCO Bank and Bank of India.

Moreover, the government has time till August 2018 for bringing its stake down below 75% in these banks to comply with minimum public holding requirement.

Read EquityPandit’s Technical Analysis on Nifty Bank