Privatization process of PSBs gathers pace; BPCL, AI & SCI also in the league

By IndianMandarins- 07 Jun 2021


New Delhi (08.06.2021): If some well-placed sources are to be believed NITI Aayog recently submitted the names of the two PSBs and a general insurer to the Committee of Secretaries (CoS) on Disinvestment. Reportedly, it has recommended the Central Bank of India and Indian Overseas Bank for privatization this fiscal as announced during the Union Budget of 2021-22. Bank of India is also expected to join the league. It is believed that the disinvestment proposal is being vetted by the Department of Investment & Public Asset Management (DIPAM) and the Department of Financial Services (DFS).

The Centre also aims at concluding the privatization of BPCL, Shipping Corporation of India, and Air India; a process that kick-started this fiscal.

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