Cut govt stake in banks below 50%: ASSOCHAM

New Delhi, Feb 19 (IBNS): The Punjab National Bank's fraudulent transactions worth Rs 11,300 crore should act as a strong trigger for the government for reducing its stake to less than 50 per cent in the banks which should then be allowed to work on the lines of private sector lenders with a full sense of accountability to their shareholders protecting interest of depositors, ASSOCHAM has said.