Incidents like the wrongful crediting of hundreds of crores of rupees into accounts of UCO Bank account holders, a part of which is looking difficult to recover now, are condemned to repeat unless public sector banks do a better job of managing technological challenges
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Synopsis Speaking to reporters in the financial capital, Sitharaman also said that the government has no plan to form any bank investment company to house the government stakes in banks.
In the union budget presented last week, Sitharaman had announced the privatisation of two banks as part of its disinvestment plan. Bank unions have opposed the move.
Mumbai: Finance Minister Nirmala Sitharaman on Sunday said the government will work with the Reserve Bank for execution of the bank privatisation plan announced in the budget. Speaking to reporters in the financial capital, Sitharaman also said that the government has no plan to form any bank investment company to house the government stakes in banks.
Govt to work with RBI to execute bank privatisation announced in Budget: FM
Finance Minister Nirmala Sitharaman also said that the government has no plan to form any bank investment company to house the government stakes in banks
BusinessToday.In | February 7, 2021 | Updated 18:49 IST
Finance Minister Nirmala Sitharaman had proposed privatisation of two banks in Union Budget 2021
Finance Minister Nirmala Sitharaman on Sunday said the government will work with the Reserve Bank of India (RBI) for execution of the bank privatisation plan announced in the Union Budget 2021. The FM, however, did not reveal the name of banks chosen for privatisation.
Speaking to reporters in Mumbai, Sitharaman also said that the government has no plan to form any bank investment company to house the government stakes in banks.