The government has decided to privatize many banks and companies, on which work is going on fast. Presently government employees are opposing it.

All banks except SBI can be private

At the same time, two leading economists of the country say that the government should hand over all government banks except State Bank of India to private hands. Apart from this, NITI Aayog has told that 6 government banks of the country will not be privatised.

NITI Aayog had released the list

In the list issued by NITI Aayog, it has been told that the government will not privatize Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.

[web_stories title=”true” excerpt=”false” author=”true” date=”true” archive_link=”false” archive_link_label=”” circle_size=”150″ sharp_corners=”false” image_alignment=”left” number_of_columns=”1″ number_of_stories=”4″ order=”DESC” orderby=”post_title” view=”carousel” /]

The merger of banks took place in August 2019.

Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.

The Finance Minister had announced that the Finance Minister had announced in last year’s budget that IDBI Bank would be privatised. The government has made a plan to sell its stake in this bank. The process has moved forward regarding this. Despite the continuous protest, the government has already cleared its stand regarding privatization. Along with this, the Finance Minister had also said that it will be sold to an insurance company.

The post Bank Privatisation: Big news! All these banks will become private. Full list released by the government first appeared on Rightsofemployees.com.

Now the Central Government has made a plan to take forward the disinvestment. Giving information, the Finance Ministry (FM Nirmala Sitharaman) has told that it is engaged in completing all the works going on in the pipeline soon. With this, by March 31, 2024, the government can complete the privatization of the bank. At this time the government is focusing on the privatization of IDBI Bank. This can be completed soon.

This information received from DIPAM

The Department of Investment and Public Asset Management (Dipam) has told that the government can complete the disinvestment process of IDBI Bank by March 31, 2024. According to media reports, while giving information, the Finance Ministry official has told that our focus is now on completing the works going on in the pipeline. At present, no plan is being made to further the privatization of any new public sector institutions.

How much will be left?

Deepam had invited bids in October 2022 to sell 30.24 per cent stake of LIC along with 30.48 per cent stake in IDBI Bank. The government and LIC jointly hold 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic sale.

[web_stories title=”true” excerpt=”false” author=”true” date=”true” archive_link=”false” archive_link_label=”” circle_size=”150″ sharp_corners=”false” image_alignment=”left” number_of_columns=”1″ number_of_stories=”4″ order=”DESC” orderby=”post_title” view=”carousel” /]

Privatization of the first 2 banks was announced

Finance Minister Nirmala Sitharaman had announced in her budget speech in the year 2021 that she would hand over 2 government banks to private hands, but the situation changed due to the Corona epidemic and due to which the banks Privatization could not be taken forward. At present, according to the information being received by quoting the sources, it is not possible before the general elections.

Let us tell you who is involved in the race to buy IDBI Bank.

Carlyle Group, Fairfax Financial Holdings and DCB Bank are showing great interest in buying this bank. In the midst of this news, a strong rise was seen in the shares of the bank on Wednesday. According to information received from sources, all of them can bid for about 10 percent stake in IDBI Bank.

The post Bank Privatisation: Big news, this bank will be private till March 2024 first appeared on Rightsofemployees.com.

The government has decided to privatize many banks and companies, on which work is going on fast. Presently government employees are opposing it.

All banks except SBI can be private

At the same time, two leading economists of the country say that the government should hand over all government banks except State Bank of India to private hands. Apart from this, NITI Aayog has told that 6 government banks of the country will not be privatised.

NITI Aayog had released the list

In the list issued by NITI Aayog, it has been told that the government will not privatize Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.

The merger of banks took place in August 2019.

Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.

The Finance Minister had announced that the Finance Minister had announced in last year’s budget that IDBI Bank would be privatised. The government has made a plan to sell its stake in this bank. The process has moved forward regarding this. Despite the continuous protest, the government has already cleared its stand regarding privatization. Along with this, the Finance Minister had also said that it will be sold to an insurance company.

The post Bank Privatisation: Big news! All these banks will become private. Full list released by the government first appeared on Rightsofemployees.com.