Reuters first to report India plans to sell four state-owned banks

Reuters was first to report that India’s government has shortlisted four mid-sized state-run banks for privatization, under a new push to sell state assets and shore up government revenue. The four banks on the shortlist are Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India, sources told Reuters. Stocks of the banks jumped as much as 20% on the news.