Govt to privatise two public sector banks
In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two public sector banks in the year and approved a policy of strategic disinvestment of public sector enterprises. The government is committed to the privatisation of two public sector banks and it is on course to take appropriate steps in the coming months.
The government think-tank NITI Aayog has already suggested two banks and one insurance company to the Core Group of Secretaries on Disinvestment for privatisation. It is said that the Central Bank of India and the Indian Overseas Bank are likely the candidates for privatisation.
As per the process, the Core Group of Secretaries, headed by the Cabinet Secretary, will send its recommendation to Alternative Mechanism (AM) for its approval and eventually to the Cabinet headed by the Prime Minister for the final approval.
The members of the Core Group of Secretaries include economic affairs secretary, revenue secretary, expenditure secretary, corporate affairs secretary, legal affairs secretary, Department of Public Enterprises secretary, Department of Investment and Public Asset Management (DIPAM) secretary and an administrative department secretary.
The divestment of BPCL is also on the card and fresh bids will be invited as the government had to cancel the sale as only a single bidder was left in the fray. The government had planned to sell its entire 52.98% stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expression of Interest from bidders in March 2020. At least three bids came in by November 2020 but only one remains now after the others withdrew from the race.
INTERVIEWS
TOP VIDEOS
SECURITY
SOFTWARE
Aruba & Forrester study says optimizing operational efficiency is a top business priority
Aruba, a Hewlett Packard Enterprise company, announced the findings of a study it commissi...
Qualcomm unveils its AI Stack Portfolio
Qualcomm Technologies, Inc. announced its AI Stack portfolio, accelerating the company&rsq...
3i Infotech signs US $2.2 Mn Digital IMS deal with one of UAE’s digital transformation companies
3i Infotech has signed an enterprise solution deal with one of UAE's digital transform...
START - UP
PERIPHERALS
INDUSTRY EVENTS
PRAMA hosts its EXCELLENCE MEET in New Delhi
Prama India has organized its Pan India Roadshows with its second event recently at New De...
Grassroots Channels announces a multicity, daylong event “Surveillance Unmasked”
Grassroots Channels has announced the launch of “Surveillance Unmasked” progra...
ManageEngine celebrates two decades of Technology Innovation
Celebrating 20 years of ManageEngine, the company has hosted a conference on May 19 at the...
As a business you need to anticipate the technology evolution and ways to improve the process: CP Gurnani
CEO Fireside Chat CP Gurnani, Chief Executive Officer & Managing Director, Tech Mahind...
E- COMMERCE
