Bank Privatization Update: Privatization of many banks (bank privatization in India) has been done by the Central Government. Now once again big news is coming out on privatization of banks.
Bank Privatization Latest News: Privatization of many banks (bank privatization in India) has been done by the Central Government. Now once again big news is coming out on privatization of banks. The government has decided to privatize many banks and companies, on which work is going on fast. Presently government employees are opposing it.
All banks except SBI can be private
At the same time, two leading economists of the country say that the government should hand over all government banks except State Bank of India to private hands. Apart from this, NITI Aayog has told that 6 government banks of the country will not be privatised.
NITI Aayog had released the list
In the list issued by NITI Aayog, it has been told that the government will not privatize Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.
The merger of banks took place in August 2019.Â
Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.
Finance Minister had announced
The Finance Minister had announced in last year’s budget that IDBI Bank would be privatised. The government has made a plan to sell its stake in this bank. The process has moved forward regarding this. Despite the continuous protest, the government has already cleared its stand regarding privatization. Along with this, the Finance Minister had also said that it will be sold to an insurance company.
