Nirmala Sitharaman Exclusive Interview: After presenting the Budget 2021, Finance Minister Nirmala Sitharaman said,that she will work with the Reserve Bank of India to privatize banks.
New Delhi: After presenting the General Budget for the year 2021-22, Finance Minister Nirmala Sitharaman said that she will work with the Reserve Bank of India to privatize banks. This will clear the way for disinvestment and the banking sector will get big benefit.
PSU banks will be privatized
Finance Minister Nirmala Sitharaman has also announced in her Union Budget 2021 speech today that two public sector banks and a general insurance company will be privatized as the central government is focusing more on disinvestment at this time. With this, Disinvestment in Bharat Petroleum is being planned.
will remain only 5 government banks
Let us tell you that at this time the central government is planning to privatize more than half of the country’s PSU banks. If everything goes according to plan, in the coming time only 5 government banks will remain in the country. The decision to privatize is being taken to improve the condition of the central government banking industry.
Only 12
banks have been reduced from 27 to 12 in the last three years due to mergers and privatizations in the banking sector, which the central government is now preparing to limit to 5. Niti Aayog has also prepared a blueprint for this. Apart from this, Finance Minister Nirmala Sitharaman has announced to create a Private Asset Reconstruction Company (ARC) in the budget, so that the problem of stuck debt can also be tackled.
existing government banks
>> State Bankof India (SBI)
>> Central Bank of India
>> Bank of India
>> Bank of Maharashtra
>> UCO Bank
>> Punjab and Sindh Bank
>> Indian Overseas Bank
>> Bank of Baroda + Dena Bank + Vijaya Bank
>> Punjab National Bank + Oriental Bank of Commerce + United Bank
>> Canara Bank + Syndicate Bank
>> Union Bank of India + Andhra Bank + Corporation Bank
>> Allahabad Bank + Indian Bank
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