The Centre is likely to designate the banking/financial sector strategic under the new privatisation policy, the contours of which are nearing finalisation. According to sources discussions had also been held on privatising some state-owned banks that are not on the consolidation list so far.
As part of the ‘Atmanirbhar Bharat’ package and according to the new privatisation policy, announced by FM Nirmala Sitharaman the government will come up with a list of strategic sectors. In each strategic sector, no more than four state-owned companies will exist. After the latest round of consolidation of public sector banks, there are currently 12 PSBs.
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