Suspense Crime Sach Ka Dam
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New Delhi: The government may soon take a big decision regarding the privatization of public sector banks. A panel will be constituted for privatization of public sector banks. This panel will decide the names of the banks that will be privatised. In April 2021, NITI Aayog had recommended privatization of two public sector banks to the Department of Disinvestment. Central Bank of India and Indian Overseas Bank were reportedly shortlisted, but no final decision was taken.
A committee will be set up to identify banks for privatization. Which includes the names of small and medium banks. Based on the performance of banks and their loan portfolio and many other parameters, this committee will have to decide the names for privatization. Officials from the Department of Investment and Public Asset Management, Reserve Bank of India and NITI Aayog may be included in this committee.
It may be noted that the Nifty PSU Bank index has seen a gain of 65.4 per cent in the last one year. While the spot Nifty has gained only 16 per cent during this period.
Presently there are 12 public sector banks in the country. A decision can also be taken on the privatization of banks like Bank of Maharashtra and UCO Bank.
Earlier in Budget 2021, Finance Minister Nirmala Sitharaman had announced privatization of two public sector banks under the disinvestment programme. In the same year, the government listed the Banking Laws (Amendment) Bill, 2021 for passage in Parliament.
Under this bill, the government wants to amend the Banking Companies Act of 1970 and 1980. It includes rules related to acquisition and transfer of public sector banks.
