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Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (287)	2/29/2000 8:28:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 494

Bank stake sell off move to see flurry of issues Sitanshu Swain Mumbai, Feb 29: A flurry of bank issues are likely to flood the marketfollowing the Government decision to cut the centre's stake from 51 per cent to 33 per cent in 19 nationalised banks. Bank of Baroda is likely to lead the pack with an overseas issue. Senior bankers have hailed the decision to cut the Government stake as it will get the banks out of the "clutches" of all investigating agencies including the central vigilance commission (CVC). "Hounded" by these agencies, bankers have been going slow on pushing the credit offtake, seniorbankers said. State Bank of India chairman GG Vaidya described the move as 'a policy pronouncement'--a precurssor to slashing the RBI stake in SBI. IDBI chairman GP Gupta also felt that the Government's stake in IDBI would be cut soon.Those banks which are currently planning IPOs-like Allahabad Bank, CanaraBank and Punjab National Bank-may expand the size of their issues, analysts said........... expressindia.com