The Aayog hasn't made the details public. It is also reported to have recommended the Indian Bank and Bank of Baroda for privatisation. The NITI Aayog is reported to have identified the Central Bank of India and Indian Overseas Bank for the purpose. The bill is, however, missing from the list made public so far.Īt present, only two PSBs, are supposed to be privatised – as per the 2021 budget's 'AatmaNirbhar Bharat' package. The unnamed government sources have been quoted as saying that a bill may be introduced in the monsoon session to allow the central government 'a complete exit' from banks to be privatised by amending the Banking Companies (Acquisition and Transfer of Undertakings) Act of 1970, which requires it to hold at least 51% stakes. But all these are coming from two channels – unnamed government 'sources' and a think tank.

Apparently, the stage is being set to privatise all public sector banks (PSBs), except the SBI for now, with multiple news reports hitting the headline simultaneously in the recent past.

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