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How Indiaâs Plan for Bank Privatisation Is Fraught with Serious Challenges
The government intends to privatise four mid-sized public sector banks: Bank of Maharashtra, Bank of India, Indian Overseas Bank and Central Bank of India.
Central Bank of India is among the four PSBs which government intends to privatise. Photo: PTI
Government19/Apr/2021
Keeping the focus on the Rs 1.75 lakh crore disinvestment target for the financial year 2022âs privatisation drive, the finance ministry is holding discussions to bring legislative amendments in order to bring two public sector banks (PSBs) out of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and (nationalisation) 1980. Before the bank nationalisation laws can be repealed, the PSBs have to be transferred from under these acts to the Companies Act.
All India Backward Classes Federation president Dabbiru Srinivasa Rao has said that the rapid privatisation of public sector units would lead to social injustice and denial of reservation to BCs and o