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Bank Privatisation: The work of privatization of two banks is happening by the federal government. The work on privatization of two public sector banks (PSBs) is happening in full swing and the federal government might take applicable steps on this regard within the coming months. Sources have given this data. In the Union Budget for the monetary yr 2021-22, the federal government had accredited the coverage of strategic disinvestment of public sector undertakings with the intention of privatization of two public sector banks throughout the yr.
BPCL disinvestment additionally in course of
According to sources, the federal government is dedicated to the privatization of two public sector banks and work is happening on this route. Apart from this, sources additionally mentioned that the disinvestment of Bharat Petroleum Corporation Limited (BPCL) can also be within the course of and contemporary bids will likely be invited for this.
BPCL course of canceled because of withdrawal of bid
Let us inform you that there was just one bidder left for this, because of which the federal government needed to cancel the sale bid. The authorities had deliberate to promote its total 52.98 per cent stake in BPCL and had sought expression of curiosity from the bidders in March 2020. For this, not less than three bids had been obtained until November, 2020, however just one bidder was left after the others withdrew their bids.
These 2 banks could also be privatized
On the strategic sale of Container Corporation of India (Concor), sources mentioned there are some points and after resolving them, the method of disinvestment will likely be initiated. According to sources, the general public sector Central Bank of India and Indian Overseas Bank may be privatized.
Union Cabinet will seal
As a part of the disinvestment course of, the principle group of secretaries, headed by the Cabinet Secretary, will ship its suggestions to the Alternative Mechanism (AM) for its approval. then the prime minister Narendra Modi The Union Cabinet headed by Mr.
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