: Bill to privatise two PSU banks to be introduced in Parliament #FinanceIndia #StockMarketNEWS #Business PTI Mumbai The central government will introduce the Banking Laws (Amendment) Bill 2021

@StockMarketNEWS Thu 25 Nov, 2021

Posted in: #FinanceIndia #StockMarketNEWS #Business

Bill to privatise two PSU banks to be introduced in Parliament #FinanceIndia #StockMarketNEWS #Business
PTI

Mumbai

The central government will introduce the Banking Laws (Amendment) Bill 2021 in the Winter Session of Parliament, commencing from November 29, in order to privatise two public sector banks.

This bill will be one among the 26 bills which are scheduled to be introduced during the session.

The bill seeks “to effect amendments in Banking Companies (Acquisition and Transfer of Undertakings) Acts, 1970 and 1980 and incidental amendments to Banking RegulationAct, 1949 in the context of the Union Budget announcement 2021 regarding privatisation of two PublicSector Banks.???

Finance Minister Nirmala Sitharaman had announced in the Union Budget 2021 that two public sector banks would be privatised as part of the government’s divestment target.

The bill is not likely to specify the names of the two banks that are slated to be privatised, according to sources. On the contrary, the government would bring about enabling legislation for privatisation of public sector banks.
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