Government think-tank NITI Aayog’s suggestions include allowance of ‘long term private capital’ in the banking sector, besides provision of banking licenses to select industrial houses under strict qualifications
The Centre has started work on the privatisation of public sector banks (PSBs) in line with the disinvestment plans announced by Finance Minister Nirmala Sitharaman in Budget 2020.
A select group of government functionaries has started discussions on a proposal based on suggestions from the NITI Aayog, sources told The Economic Times. The move aims to hinder a “culture of bailouts by the taxpayer,” it said.
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While discussions on de-nationalisation are on, no decision has been made yet, sources said, adding: “The discussions have to get more intense as the Bank Nationalisation Act has to be amended before going ahead with the next step.”
Moneycontrol could not independently verify the report.
Government think-tank NITI Aayog’s suggestions include allowance of ‘long term private capital’ in the banking sector, besides provision of banking licenses to select industrial houses under strict qualifications.
Source: Moneycontrol
