The PSB Privatisation Bill may allow the government to depart completely.

canvas5-1596312349

Share This Post

In the forthcoming monsoon session of Parliament, the government is expected to present legislation to allow the privatisation of state-owned banks.

According to an individual familiar with the discussions, one of the revisions under consideration allows the central government to withdraw completely from the privatisation of banks. According to the Banking Companies (Acquisition and Transfer of Undertakings) Act of 1970, the central government must own at least 51% of public sector banks. Previously, it was thought that the Centre should keep at least a 26 percent ownership during privatisation, which may be gradually reduced.

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore