Niti Aayog submits names of public sector banks to be privatised

Niti Aayog was given the task to identify the government-owned banks and insurance company that can be made private. 

New Delhi: Niti Aayog on Thursday (June 3) submitted the names of Public Sector Undertaking (PSU) to be privatised to the Core Group of Secretaries on Disinvestment. All the PSBs in the list will be privatised by FY22, as part of the government’s massive disinvestment process aimed at raising funds.  "We have submitted the names (of PSU banks) to the Core Group of Secretaries on Disinvestment," a government official told PTI.  According to Budget 2021-22, the Centre is looking to privatise two public sector banks and one general insurance company. Niti Aayog was given the task to identify the government-owned banks and insurance company that can be made private.