Budget Propose to Privatize Two Banks
- The Union Budget 2021 has announced the privatisation of two public sector banks and one general insurance company in the upcoming fiscal 2021-22.
- The two banks that will be privatised will be selected through a process in which NITI Aayog will make recommendations, which will be considered by a core group of secretaries on disinvestment and then the Alternative Mechanism (or Group of Ministers).
- This is another attempt by the government to bring reforms in public sector banking. In August 2019, they had announced the merging of 10 public sector banks into four public sector banks.
Need
- Years of capital injections and ....
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