Tag: bank privatization

The Central wants to expedite the privatization of two state-owned banks. The necessary government process has already started in this regard. The news agency PTI quoted a source in the center as saying on Wednesday. The Narendra Modi government had earlier amended the Banking Regulation Act to pave the way for private investment in state-owned banks. According to sources, the Center wants to pass a bill in this regard in the upcoming Badal session of Parliament. Initially, two state-owned banks have been listed for liquidation. The Finance Minister Nirmala Sitharaman said last year that the Center wanted to start the process of privatization of several state-owned banks. She said that for this purpose two laws of bank nationalization of 1970 and 1980 and the Bank Control Act of ...