'Redefine quasi-govt holding to raise funds sans stake dilution'...

Suggesting a way out of the dilemma over one of the vexing issues that government cannot infuse large, required capital without diluting its stake in public sector banks,C Rangarajan, chairman, Prime Minister s Economic Advisory Council, on Tuesday said law should be amended to declare holding of entities like Life Insurance Corporation (LIC) in the banks as government holding. The government can bring in additional capital without diluting its stake below the permissible limit of 51% by including the definition of entities like the LIC, which are quasi-government in nature and are likely to remain to be fully owned or an ...

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