Not all public sector banks to be privatised: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said all steps to protect the interest of existing employees working at public sector banks would be taken when they are privatised.  

The government has no intention to privatise all public sector banks in the country, Union Finance Minister Nirmala Sitharaman said on Tuesday, the last day of the two-day bank strike against the privatisation move. Sitharaman said all steps to protect the interest of existing employees working at public sector banks would be taken when they are privatised. Her comment came during a press conference in New Delhi, where she announced that the Union cabinet has cleared the bill to set up the Development Finance Institution (DFI).