New Delhi, 28/6 (AO Bureau): Union Finance Minister Nirmala Sitharaman will hold a press conference today at 3 pm. According to media reports, the Finance Minister is likely to make announcements related to some economic relief measures and bank privatization.
Meanwhile, a high-level panel headed by the Cabinet Secretary recently held a meeting to discuss various regulatory and administrative issues related to the privatization of two public sector banks. So that proposals can be made with the Group of Ministers on disinvestment or alternative mechanism.
Sources said that as announced by Finance Minister Nirmala Sitharaman in her 2021 budget speech, NITI Aayog has suggested some bank names for privatization to the Core Group of Secretaries on Disinvestment headed by the Cabinet Secretary in April. According to a report in PTI, the Central Bank of India and Indian Overseas Bank are being said to be potential candidates for privatization.
According to CNBC-TV18, the names of Indian Overseas Bank (IOB) and Central Bank of India (CBI) have been approved by a panel headed by Cabinet Secretary. The government will raise funds by selling its stake in these banks. Speculations are being made that the Finance Minister can also make an announcement in this regard. For the last several days, discussions are going on regarding the privatization of these banks.