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Bank Privatisation Row: Concerned officials to take a call on privatising two PSBs!
By: Tupaki Desk | 15 April 2021 7:45 AM GMT
While presenting the Union Budget, Finance Minister Nirmala Sitharaman has announced the Centre's proposal to privatise the public sector banks (PSBs) in the country, amid confrontation by the opposition parties.
In the wake of growing protests, Nirmala Sitharaman said there is no chance of taking back the decision to privatise the PSBs. Only the entities that are making losses will be privatised, she said.
As part of the first phase of privatising the PSBs, the Union Government is likely to take a call on privatising two public sector banks, media reports claimed.
To zero in on not less than two public sector banks, Senior officials of the Niti Aayog, the Reserve Bank of India (RBI), and the finance ministry's financial services and economic affairs departments chaired a key meeting.
The main agenda behind the key meeting is to pick two PSBs out of five PSBs suggested by the Niti Aayog to privatise under the Union Government's proposal, reports claimed.
Earlier last week, the Niti Aayog has proposed five PSBs for privatisation. The meeting commenced today was to pick two potential banks that possess the criteria to get privatised.
Bank of Maharashtra and Indian Overseas banks are two of the five PSBs proposed by Niti Aayog to the Union Government. The Union Government has intensified its process to privatise the banks in which the Centre holds a large stake.
In the wake of growing protests, Nirmala Sitharaman said there is no chance of taking back the decision to privatise the PSBs. Only the entities that are making losses will be privatised, she said.
As part of the first phase of privatising the PSBs, the Union Government is likely to take a call on privatising two public sector banks, media reports claimed.
To zero in on not less than two public sector banks, Senior officials of the Niti Aayog, the Reserve Bank of India (RBI), and the finance ministry's financial services and economic affairs departments chaired a key meeting.
The main agenda behind the key meeting is to pick two PSBs out of five PSBs suggested by the Niti Aayog to privatise under the Union Government's proposal, reports claimed.
Earlier last week, the Niti Aayog has proposed five PSBs for privatisation. The meeting commenced today was to pick two potential banks that possess the criteria to get privatised.
Bank of Maharashtra and Indian Overseas banks are two of the five PSBs proposed by Niti Aayog to the Union Government. The Union Government has intensified its process to privatise the banks in which the Centre holds a large stake.
