Bank privatisation proposal could be taken up in monsoon session of parliament: CEA

CNBC, June 29, 2021

A high-level panel headed by the cabinet secretary recently held a meeting to deliberate Niti Aayog’s recommendations on privatisation of public sector banks.

CNBC-TV18 had reported that Indian Overseas Bank and Central Bank of India could be the likely candidates.

In an exclusive interview to Shereen Bhan and Latha Venkatesh, Chief Economic Adviser Krishnamurthy Subramanian hinted that the bank privatisation proposal could be taken up in monsoon session of parliament.

Subramanian said, “The emphasis is on implementing all the reforms that have been announced over the last one and half years and crescendo of that being the Budget. So, implementation is actually being paid serious attention, whether it is the privatisation programme itself or the privatisation of the public sector banks. The reason I am separating these is because Rs 1.75 lakh crore that was budgeted does not include the proceeds from the two public sector banks but work is actually going on. We should expect some traction on these going forward.”

The Cabinet Committee on Parliamentary Affairs (CCPA) on Tuesday recommended that the upcoming monsoon session of Parliament be held from July 19 to August 13. This session will have 20 sittings, sources said.

All COVID related protocols will be followed within the Parliament complex during the session, the sources said, adding that it is hoped that all those entering the complex during the session have taken at least one dose of COVID vaccine.

The Monsoon session usually starts in the third week of July and concludes ahead of 15 August.

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