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.

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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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