No plans to raise foreign investment limit to 49% in PSBs: Govt
Minister of State for Finance Pankaj Chaudhary said the government has no plans to raise the foreign direct investment limit in public sector banks to 49%. The FDI limit in PSBs currently stands at 20%, while private banks can attract up to 74% FDI. Foreign ownership in SBI and Canara Bank rose to 11.07% and 10.55%, respectively, as of March.