Budget 2022 - No Announcement on Privatisation of Public Sector Banks

Breaking

Post Top Ad

Read in Your Language

Tuesday, 1 February 2022

Budget 2022 - No Announcement on Privatisation of Public Sector Banks

The major highlights of the Budget 2022 as far as important for the bank employees was no mention on promises of privatisation of public sector banks announced in the last budget. While the Niti Aayog made recommendations to privatize banks like Central Bank of India, Indian Overseas Bank, the FM did not mention this in the budget, nor are the banking amendment bills required to move forward with privatization listed in this year’s budget session. 


The big focus area for banking from the union budget over the years has been any announcements relating to infusion of capital into public sector banks. However, that was ruled out on the back of improved health of the financial sector, and a reduction in bad loans. The Finance Minister did not announce any further capital for the state run banks.


It may not be announced due to upcoming elections in major states like UP, Punjab etc.

No comments:

Post a Comment

Followers

Post Top Ad