The Government-run NITI Aayog has shortlisted the names of two Nationalised banks for privatization. It could lead to the privatization of NSE 11.03 % of Central Bank of India and Indian Overseas Bank (IOB NSE 5.45 %), as suggested by a report in Times of India.
The report further added that Bank of India could be a potential candidate for privatization too.
NITI Aayog had submitted the names of the two state-run banks and one general insurer to secretaries on disinvestment.
According to the government research tank, two state-run banks and one general insurer privatization in the current financial year.
The Union Budget for 2021-22 made the declaration about the privatization of these banks. DIPAM and the financial services department are vetting the proposal.
The Centre has budgeted a target of Rs 1.75 lakh crore from stake sale in the current fiscal.
The Centre also aims to conclude the privatization of Air India, BPCL, and Shipping Corporation, which has already started in the current fiscal.
