Modi govt to divest equity in PSB?

Tokyo MAY 09: Another shocking news by Modi government
the Central Government may soon reduce its share in Public Sector banks.

Finance Minister Arun Jaitley while speaking at a Round Table Conference held by CII-Kotak Investors said that

"We will divest the equity of central government to
52 %in Public Sector Banks PSBs after the health of the
banks improve."

He also said that the banks are in distress because of NPA.We have taken some steps to solve that problem and based on the results we will take further required steps to solve the problem.

He also said that India need not worry because of the protectionist steps taken by the USA government.

Finally, he Concluded by saying that India is all Set to Implement GST from July 1, 2017.

Let's hope Banks health improve quickly so that central government can divest the shares of banks which will be helpful for the Indian Economy in the Long run.