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Bank Privatization: All government banks except SBI will be private! Know the biggest update on privatization

Bank Privatization: All government banks except SBI will be private! Know the biggest update on privatization

Bank Privatization Latest Update: The government is working fast for privatization in the country. Privacy of two public sector banks (Bank Privatization 2022) is also going to be done in the country. But in the meantime big news has come out. Two major economists of the country say that the government should hand over all the public sector banks to private hands except the Indian State Bank. Let us know the update. The government is going to privatize two public sector banks soon, whose preparation is almost complete. Apart from this, there are many government companies that are being assigned in private hands. Privelfation can begin by September this year. On the other hand, government employees are also continuously strike against this, but in the meantime, two major economists of the country say that the government should hand over all government banks to private hands except the Indian State Bank.

All banks will be privatized

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Panagadia and Gupta, presented in the India Policy Forum, have said in a policy paper, 'Privatization of government banks is in everyone's interest. Most of the banks entering the private sector will also increase the pressure on the Reserve Bank of India to streamline the entire process, rules and laws, so that it can lead to good results.

SBI is not in the list According to the report given by

ncaer.org, this policy paper states that all government banks including Indian State Bank should be privatized in principle. But in the economic and political structure of India, no government would like that it does not have any government bank. In view of this, at present, all other banks except SBI should be privatized. If the atmosphere looks favorable after a few years, then SBI should also be privatized. That is, both economists are giving their full support when banks are private.

It is worth mentioning that Finance Minister Nirmala Sitharaman had announced privatization of two public sector banks with IDBI Bank in FY 2022 while presenting the budget for the current financial year. Apart from this, NITI Aayog has also shortlisted two PSU banks for privatization. Despite the continuous protests, the government has already cleared its side regarding privatization. Along with this, the Finance Minister had also said that an insurance company would be sold in the current financial year. According to information given by sources

Central Bank of India and Indian Overseas Bank were selected as potential candidates for privatization. That is, Indian Overseas Bank and Central Bank of India are two banks which can be privatized first.

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August 9th 2022, 1:47 pm
Amitesh Kumar
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