Niti Aayog has submitted the names of two state run banks and one general insurance company that can be privatised.
As Niti Aayog has been given the task to submit the name of two Public Sector banks and one general insurance company to the Core Group of Secretaries on disinvestment as was announced in the Union Budget 2021-22.
Along with these names’ government wants to conclude the privatization process for Air India, BPCL and Shipping Corporation in this fiscal.
Further, Finance Minister has assured that the workers of banks getting privatised will be protected regarding their salaries or scale or pension.
The government is aiming to create bigger banks and has budgeted Rs. 1.5 lakh crore for disinvestment process during the current financial year.