Center, RBI to jointly work on bank privatisation, announced in budget: Sitharaman

Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Sunday stated the centre will be working with the Reserve Bank of India( RBI) for the execution of the bank privatisation plan announced during the budget.

Speaking at a media brief Sitharaman further stated that the government will not be forming any bank investment company to stock the government stakes in banks.

During the Union Budget presented last week, Finance Minister Sitharaman had announced the privatisation of two lenders as part of its disinvestment plan.

Also Read:- Union Budget 2021: Finance Minister proposes Rs 1,500 Crore Scheme to boost Digital Payments

Bank unions, however, had opposed the move. “The details are being worked out. I have made the announcement but we are working together with the RBI,” she said, talking about the proposals.

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