In a move to raise the revenues India's government has shortlisted four mid-sized state-run banks for privatization, under a new push to sell state assets, news agency Reuters quoting government sources said. Privatization of the banking sector, which is dominated by state-run behemoths with hundreds of thousands of employees, is politically risky because it could put jobs at risk but Prime Minister Narendra Modi's administration aims to make a start with second-tier banks. The four banks on the shortlist are Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India, two officials told Reuters on condition of anonymity as the matter is not yet public,Reuters reported. Sources said that the selection for privatization of 2 of these banks will be started in the financial year 2021-2022, which starts from April. Officials said that the government is considering mid-level banks in the first round for privatization. But, in the coming years, the go...
A 'black day' in the history of India-India on Sunday observed the second anniversary of the deadly Pulwama attack that had claimed the lives of 40 Central Reserve Police Force (CRPF) bravehearts on the Srinagar-Jammu National Highway in Jammu and Kashmir. It happened after a suicide bomber rammed an IED-laden vehicle into the security convoy. The convoy had 78 buses in which around 2,500 personnel were travelling from Jammu to Srinagar. The attack, which was reported near Awantipora at nearly 3:15 pm resulted in the death of 40 CRPF jawans, while many others were left injured.The attack was carried out by a 22-year-old Jaish-e-Mohammed terrorist Adil Ahmad Dar. Immediately after the deadly attack on that fateful day that pushed India and Pakistan to the brink of war, the CRPF decided to completely overhaul its SOP (standard operating procedure) for moving convoys on the highways. Instead of moving in large convoys, like the one on February 14, 2019 with 78 vehicles, it was d...