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.
Also Read - Privatisation of public sector banks
It may not be announced due to upcoming elections in major states like UP, Punjab etc.
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Privatization