Diabytes
Bank privatisation News
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The Centre wants to pass a bill in this regard in the upcoming monsoon session of Parliament.
The name of which two banks will be privatised is yet to be announced by the Centre.
the Modi government initially chose four medium-sized banks for privatisation.
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Lakhs of public sector bank employees went on strike for the second day on Friday to protest the government's proposed privatisation of banks.
As a result of the two-day strike, services such as deposits and withdrawals at branches, check clearance, and loan applications are still delayed.
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The panel also examined issues pertaining to the protection of interests of workers of banks which are likely to be privatised.
Central Bank of India and Indian Overseas Bank are reported to be probable candidates for privatisation.
The government last year consolidated 10 public sector banks into four.
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Finance Minister Nirmala Sitharaman while unveiling Budget 2021-22 on February 1 had announced that the government proposed to take up the privatisation of two public sector banks (PSBs) and one general insurance company.
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Bank of Maharashtra and Central Bank are the top two candidates that have been favoured for privatisation.
United India Insurance may be chosen candidate for privatisation among the three general insurers.
Both Bank of Maharastra and Central Bank are west focused banks where public sector bank presence is already stronger.
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Banking operations across the country will be impacted on Monday (March 15) and Tuesday (March 16) as employees of various public sector banks decide to go on strike.
The nationwide strike is called by the United Forum of Bank Unions (UFBU).
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10 lakh bank employees have been protesting in the country for the last one month
United-Forum made every effort before the Additional Chief Labour Commissioner to prevent the strike
Banks will remain closed for four days from Saturday
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The shortlist has not previously been reported.
Govt considering mid-sized to small banks.
First round of privatisation to test waters.
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Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, while presenting the Union Budget FY 2021-22 in Parliament announced that government has approved a policy of strategic disinvestment of public sector enterprises that will provide a clear roadmap for disinvestment in all non-strategic and strategic sectors.
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The shortlist has not previously been reported.
Govt considering mid-sized to small banks.
First round of privatisation to test waters.
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Neither the PCA nor any other framework can cure the banking sector, for the problem is structural rather than functional: it is the government ownership that is at the heart of the rot.
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Introduction of technology-based solutions also makes it possible to cater to the requirements of the smaller borrowers, who were neglected in the pre-nationalisation era, the technocrat said.
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The recent Congress plenary session has showed that the Congress still wants to undo the liberalisation that its own government started in 1991.
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