India plans minority stake sales in half a dozen state firms, official says

NEW DELHI (Reuters) -The Indian government is planning to sell minority stakes in about half a dozen state-run companies, divestment secretary Arunish Chawla told television channel CNBC-TV18 on Monday. Chawla did not disclose which companies will be considered for the sale of stakes, but Reuters has previously reported that India has plans to sell shares in five public sector banks including UCO Bank and Bank of Maharashtra. India also has to reduce its shareholding in the country's largest insurer, Life Insurance Corporation of India, to meet the market regulator's minimum public shareholding norms.