Centre receives Rs.38.4 billion from stake sale in Axis Bank

The central bank has received about Rs.38.4 billion by selling its 1.5 per cent stake in Axis Bank, held through the Specified Undertaking of the Unit Trust of India (SUUTI), Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey stated in a tweet. With this sale, the government has now collected Rs.283.8 billion in divestment proceeds this year. The disinvestment target for 2022-23 was set at Rs.650 billion in the Union Budget.

References
1. https://www.business-standard.com/article/economy-policy/govt-gets-rs-3-839-cr-from-axis-bank-stake-sale-disinvestment-kitty-swells-122111601340_1.html