CBI And IOB Privatization: After the privatization of government companies in the past, now the government is working to privatize banks. In which there is a list of Central Bank of India and Indian Overseas Bank to be included in the short list.
Bank Privatization : The government of our country is working fast regarding privatization. The government has created a different image among the people regarding this privatization work. Let us tell you that after the privatization of government companies in the past, now the government is working to privatize banks. Due to this move of the government, the people of the country are also opposing the government a lot. Meanwhile, the government has also placed bids for many companies. The process of privatization of public sector banks is in progress. Along with this, it is being speculated that there may be privatization of the government bank. In which two banks have also been shortlisted. As soon as people came to know about this, some people have started strike in protest against it.
Two government banks included in the short list
The government is preparing to remove the 20 percent cap on foreign ownership in PSU banks (PSUBs) by amending the Banking Regulation Act. According to sources, the news of inclusion in the short list of two banks Central Bank of India and Indian Overseas Bank has come to the fore. On the other hand, two government officials told the media on the condition of not publishing the names that it may soon be approved by the cabinet. The government wants to ensure privatization of at least one of the two banks in September. That is why it is possible that this month a big government bank may be made private.
Let us tell you that work is being done on behalf of the government on the privatization of public sector banks (Bank Privatization 2022). Inter-ministerial consultation is also in the final stage. It is being speculated that soon it will be extended further. By the end of this financial year, almost all the work related to privatization of the bank will be completed.
Know what is the government’s plan
Finance Minister Nirmala Sitharaman announced the privatization of two public sector banks along with IDBI while presenting the budget for the financial year on 1 February 2022. NITI Aayog has shortlisted two PSU banks for privatization. Along with this, Finance Minister Nirmala Sitharaman had said that there is also a plan to privatize an insurance company in the current financial year. In this case, an official says that the Central Bank of India and Indian Overseas Bank are expected to privatize. That is, both these banks are expected to be privatized.
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