Parliament proceedings | Govt to take view on privatisation of public sector banks after consultation with dept., regulator
The Hindu
“Before such consideration for decision thereon, consultation is undertaken with the Ministries and departments concerned and, where necessary, with the regulator concerned,” MoS for Finance Bhagwat Karad said
The government on December 19 said it will take a view on privatisation of Public Sector Banks (PSBs) after consultation with the concerned department and regulator.
Consideration of issues related to disinvestment and decision on selection, terms and conditions, etc. in case of strategic sale is entrusted to the Cabinet committee designated for this purpose under the Government of India (Transaction of Business) Rules, 1961, Minister of State for Finance Bhagwat Karad said in a written reply to the Lok Sabha.
“Before such consideration for decision thereon, consultation is undertaken with the Ministries and departments concerned and, where necessary, with the regulator concerned,” he said.
In the Union Budget for the financial year (FY) 2021-22, he said, the government’s intent to take up privatisation of two PSBs and approval of a policy of strategic disinvestment of Public Sector Enterprises (PSEs) was announced.
The objectives of the policy include enabling growth of public sector enterprises through infusion of private capital, thereby contributing to economic growth and new jobs, and financing of social sector and development programmes of the government, he said.
A bank is classified as a Public Sector Bank (PSB) or a Private Sector Bank (PVB) by the Reserve Bank of India (RBI).
Mr. Karad in reply to another question said the Central Bureau of Investigation (CBI) has registered 102 cases during the years 2019, 2020, 2021 and 2022 (up to 30.11.2022) involving 135 private companies or firms or individuals in the country for trapping people on the pretext of doubling/increasing their money.
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