The federal government is on target with the privatisation of two public sector banks (PSBs) and can take applicable steps within the coming months, sources stated.
Within the Union Finances for 2021-22, the federal government introduced its intent to take up the privatisation of two PSBs within the yr and authorized a coverage of strategic disinvestment of public sector enterprises.

In line with sources, the federal government is dedicated to the privatisation of two public sector banks and it’s on target.
Moreover, sources additionally stated the divestment of BPCL can be on the cardboard and recent bids shall be invited.
The federal government needed to cancel the sale as solely a single bidder was left within the fray, sources stated.

The federal government had deliberate to promote its total 52.98 per cent stake in Bharat Petroleum Company Ltd (BPCL) and invited Expression of Curiosity from bidders in March 2020. A minimum of three bids got here in by November 2020 however just one stays now after the others withdrew from the race.
On the strategic sale of Container Company of India (Concor), sources stated, there are some points and the method can be undertaken after these are resolved.

The Cupboard, in November 2019, had authorized the strategic sale of a 30.8 per cent stake, together with administration management, in Concor out of the federal government fairness of 54.80 per cent. The federal government will retain 24 per cent stake post-sell-off however with none veto powers.
The federal government think-tank NITI Aayog has already instructed two banks and one insurance coverage firm to the Core Group of Secretaries on Disinvestment for privatisation.

In line with sources, Central Financial institution of India and Indian Abroad Financial institution are seemingly candidates for privatisation.
As per the method, the Core Group of Secretaries, headed by the Cupboard Secretary, will ship its advice to Various Mechanism (AM) for its approval and ultimately to the Cupboard headed by the Prime Minister for the ultimate nod.

The members of the Core Group of Secretaries embody financial affairs secretary, income secretary, expenditure secretary, company affairs secretary, authorized affairs secretary, Division of Public Enterprises secretary, Division of Funding and Public Asset Administration (DIPAM) secretary and an administrative division secretary.

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