Which public sector banks are going to be privatised?

Which public sector banks are going to be privatised?

Following the announcement made during Union Budget 2021-22, the process of privatisation of Public Sector Banks (PSBs) began. Initially, Central Bank of India (CBI), Indian overseas Bank (IOB), Bank of India (BOI) and Bank of Maharashtra (BOM) were reportedly short listed by Niti Aayog.

Which bank is going to privatise in India?

Indian Overseas Bank, Central Bank of India clarify on reports of privatisation. The central government will introduce the Banking Laws (Amendment) Bill 2021 in the Winter Session of Parliament.

Is privatisation of Indian public sector banks in the air?

You might be aware about the recommendations of the Niti Aayog to the central government about the privatisation of few Indian Public Sector Banks. Currently, the talk about the privatisation of 3 public sector banks namely, Punjab & Sind Bank, Indian Overseas Bank and Bank of Maharashtra is in the air.

Which banks should be privatised by the government?

NITI Aayog on Friday has recommended the government to privatise Punjab & Sind Bank, UCO Bank and Bank of Maharashtra. The recommendation was made by the government think tank in a presentation to Prime Minister’s Office (PMO) and union finance ministry functionaries.

Will Central Bank of India and Indian Overseas Bank be privatised?

NITI Ayog has shortlisted Central Bank of India and Indian Overseas Bank for divestment, according to CNBC Awaaz. In the Union Budget 2021, finance minister Nirmala Sitharaman announced the decision of privatising of two public sector banks (PSBs) in 2021-22.

Is government planning to privatise Punjab & Sind Bank?

At present, the government is said to be examining the possibility to privatise Punjab & Sind Bank, Bank of Maharashtra and Indian Overseas Bank, which are currently not part of the existing consolidation programme.