No Cabinet decision on privatisation of two Public Sector Banks: FM Nirmala Sitharaman

The Cabinet has not taken any decision on privatisation of two Public Sector Banks (PSBs), which the government had announced in Budget 2021-22, Parliament was informed on Tuesday.

In the Union Budget for financial year 2021-22, the government had announced its intent to take up privatisation of two PSBs in the year and approval of a policy of strategic disinvestment of public sector enterprises, Finance Minister Nirmala Sitharaman said in a written reply in the Rajya Sabha on Tuesday.

She was responding to a question on privatisation of two PSBs.

The objectives of the policy include enablement of growth of public sector enterprises through infusion of private capital, technology and best practices, the minister said.

“Consideration of various issues related to disinvestment is entrusted to the Cabinet Committee designated for this purpose/ Cabinet. Decision by the Cabinet Committee/Cabinet has not been taken in this regard,” Sitharaman said further.

The bill related to privatisation of PSBs has been listed for the ongoing winter session of Parliament which ends on December 23.

from Banking & Finance – The Financial Express https://ift.tt/3EgEQoo