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Cabinet Panel Yet To Choose Privatisation Of 2 State-Owned Banks, States Financing Minister

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Financing minister Nirmala Sitharaman has said that decision on privatisation of banks is yet to be takenFinance Minister Nirmala Sitharaman on Monday notified Parliament that the cabinet committee on disinvestment problems is yet to take a decision relating to privatisation of 2 public sector banks.The government had in Budget 2021-22 announced its intent to use up privatisation of 2 public sector banks (PSBs) during the current financial and approval of a policy of tactical disinvestment of public sector business, she said in the Lok Sabha.

Consideration of different problems associated with disinvestment, which inter alia, include selection of the bank(s) is entrusted to the cabinet committee designated for this purpose.

Choice by the cabinet committee concerned for privatisation of PSBs has actually not been taken in this regard, she said.The government has actually allocated Rs 1.75 lakh crore from stake sale in public sector business and financial institutions, consisting of two PSBs and one insurance company, during the existing fiscal year.




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