Heightened stress could delay bank privatisation: Fitch
The Hindu
‘Investor interest needed for success’
The Centre’s plan to privatise two public sector banks this year could face delays on account of higher stress levels in banks’ balance sheets due to COVID-19, as well as political hurdles in effecting necessary legislative changes, Fitch Ratings said on Monday. The government has announced an ambitious disinvestment target of ₹1.75 lakh crore for 2021-22, which includes the sale of two banks, yet to be officially identified from the dozen public sector entities in the sector. “The bold move to privatise state-run banks faces risk from political opposition and structural challenges including heightened balance-sheet stress due to the pandemic, which is likely to keep bank performance subdued for the next 2-3 years,” Fitch said in a note.
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