A few state-owned banks may be privatized on Wednesday
For some time now, the privatization of the central government bank has come up in Indian politics. The Modi government wants to privatize several central government agencies. And this view has been strongly opposed by all the opposition political parties. However, it has recently come to light that the central government may privatize public sector banks or PSBs in the first phase. According to sources, the policy committee will meet next week to privatize these banks.
It is learned that the Policy Commission will hold a meeting on Wednesday, April 14, 2021, to decide which banks are currently being privatized. There will be a detailed discussion about those who will be privatized. In this meeting, four or five proposals will be made on behalf of the Policy Commission which will be discussed in detail. According to a recent report by Business Standard, the policy committee will propose 4-5 banks at its meeting on Wednesday. The names of the two banks will be finalized. This list includes Bank of Maharashtra, Indian Overseas Bank, Bank of India, Central Bank, etc.
It is pertinent to note that the shares of PSB banks have risen above 3% for some time now. The policy commission also said that several other banks besides the State Bank of India have merged with various state-owned banks in the last few years. No thought has been given to privatizing them so far.
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