Bank Privatisation: The government can privatize at least two public sector banks (PSBs) in the first phase. Two sources in the government said that next week there is a meeting of senior officials of the Financial Services and Economic Affairs Departments of the Niti Aayog, the Reserve Bank of India (RBI) and the Ministry of Finance. This meeting will be held on 14 April (Wednesday).
The government can privatize at least two public sector banks (PSBs) in the first phase. Two sources in the government said that next week there is a meeting of senior officials of the Financial Services and Economic Affairs Departments of Niti Aayog, Reserve Bank of India (RBI) and Ministry of Finance (Finance Ministry). This meeting will be held on 14 April (Wednesday). Potential banks of privatization will be discussed in the meeting. The source said that four to five PSBs have been suggested by NITI Aayog and they will be discussed in the meeting.
These banks included in the list of privatization
According to the Business Standard report, the Niti Aayog has suggested the names of 4-5 banks and it is believed that the names of any two will be decided in this meeting. In the list of privatization, the names of Bank of Maharashtra, Indian Overseas Bank, Bank of India, Central Bank are discussed. There is a bumpy jump in the stocks of these banks too. On Friday, shares of NIFTY PSU Banks saw a rise of nearly 3 percent (till intraday).
These banks will not be in the list ..
According to the NITI Aayog, apart from the State Bank of India, the banks which have been consolidated in the recent past will not be privatized. At present, there are 12 government banks in the country. Apart from SBI, Punjab National Bank, Union Bank, Canara Bank, Indian Bank and Bank of Baroda are not in the list of privatization based on the report.
privatization was announced in the budget
Explain that in the government, the government had announced the privatization of banks in the budget. In the next financial year, there is a preparation for the privatization of two banks. In the list of privatization, the name of Bank of Maharashtra, Indian Overseas Bank, Bank of India, Central Bank is discussed. So far, no bank has been finalized for privatization. Finance Minister Nirmala Sitharaman, while presenting the budget of 2021-22 on February 1, proposed the privatization of two public sector banks and a general insurance company.
