Bank Privatization Latest News: Big planning is being done by the government regarding privatization of banks in India. Niti Aayog has issued a list on behalf of which banks will be privatized by the government and which banks have been kept out of this list. At present, the government is going to take a decision soon on the privatization of two banks and a general insurance company.
4 Banks Have Merged
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.
These 6 Banks Will Not Be Privatized
In the list issued by NITI Aayog, it has been told that Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank are included. 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.
Finance Minister Nirmala Sitharaman Had Announced In The Budget
Giving information, Finance Minister Nirmala Sitharaman had said in her budget speech that a plan is being made to privatize 2 government banks and a general insurance company. At present, the government had set a disinvestment target of Rs 1.75 lakh crore for the financial year 2022.
Integration Process Not Completed
According to the information received from the consolidation plan made in the year 2019, the merger of many banks has been done by the government, but the process of their integration is still pending, which can be completed soon.
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