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Govt committed on privatisation of two public sector banks: Sources

Govt committed on privatisation of two public sector banks: Sources

“The plan to privatise two public sector banks is on its course. We are committed to it” said a government official on account of anonymity.

FM Sitharaman, while presenting Budget 2022, had announced the privatisation of PSBs as part of its disinvestment drive. FM Sitharaman, while presenting Budget 2022, had announced the privatisation of PSBs as part of its disinvestment drive.

To facilitate privatisation of two public sector banks (PSBs), Centre may introduce a Banking Laws Amendment Bill in the monsoon session of Parliament, said government sources to Business Today TV on Wednesday.

Finance Minister Nirmala Sitharaman, while presenting Budget 2021-2022, had announced the privatisation of PSBs as part of its disinvestment drive.

“The plan to privatise two public sector banks is on its course. We are committed to it” said a government official on account of anonymity.

The Banking Laws Amendment Bill 2021, which was to be introduced in the last winter session 2021 of Parliament, was delayed. Once the amendment is introduced, it is expected to bring down the minimum government holding in the PSBs from 51 per cent to 26 per cent.