The government plans to review the list of state-run banks slated for privatization amid improved profitability and a significant drop in non-performing loans.
A new panel with representatives from the finance ministry, NITI Aayog and the Reserve Bank of India (RBI) is being considered to draw a fresh list of candidates for privatization, two people close to the matter said on condition of anonymity.
In the 2021-22 budget, finance minister Nirmala Sitharaman announced plans to privatize two state-run banks, along with IDBI Bank and a general insurance company in the fiscal year. NITI Aayog recommended two government-owned banks for privatization, and its suggestions were also put before the finance ministry. Unverified media reports suggested that the two banks were Central Bank of India and Indian Overseas Bank.
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