BJP leader Manoj Kamboj has been booked in a fraud case by Mumbai police, following a complaint field by the manager of Indian Overseas Bank. According to the complaint, the manager alleged that Manoj and two other directors of a company borrowed a loan of Rs 52 crore, and not used it for its intended purpose. The case has been filed under IPC sections 409 and 420.
The Centre may include the Central Bank of India and Indian Overseas Bank in the next round of privatisation, as per the government sources. Reportedly, the two banks have been suggested by the NITI Aayog, and they are being analysed by the disinvestment and financial services departments. The sources added that "the timeline [for the privatisation of state-run banks] will depend on the legislative changes required."
Courtesy: The Times of India
According to reports, the Union government is planning to privatise four mid-size state run banks to shore up revenues in the treasury. The shortlisted banks include Bank of Maharashtra, Bank of India, Indian Overseas Bank and Central Bank of India. In addition, the Centre aims to sell two of the selected banks in FY2021-22. However, the experts fear the divestment of tier-II banks might force thousands to lose their jobs.
Courtesy: The Economic Times