According to a report by IANS, NITI Aayog has submitted the names of two public sector banks(PSBs) and one public sector general insurer, which can be sold off under the government’s new privatisation policy, to the Core Group of Secretaries on the Disinvestments.
“The timeline will depend on the legislative changes required,” the publication quoted sources as saying. The proposal will also have to be discussed with the Reserve Bank of India. The Department of Investment and Public Asset Management (DIPAM) and Department of Financial Services (DFS) will examine the proposal and discuss legislative changes needed for privatisation of banks.
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