InvestorQ : Is it true that IOB and Central Bank are the two PSU banks shortlisted to be privatized?
Chandralekha Desai made post

Is it true that IOB and Central Bank are the two PSU banks shortlisted to be privatized?

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NISHA Nayak answered.
2 weeks ago
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Let me explain the issue. In the last budget, the Finance Minister had promised that two more PSU banks other than IDBI Bank would be privatized during the year apart form one general insurance company. Winter session starting on 29 November is the last session prior to budget so it is obviously expected that the Banking Regulation Amendment Bill to privatize the banks would be passed in this session.

On Wednesday, there were strong reports in the press that IOB and Central Bank could be the two PSU banks in this race. However, IOB and Central Bank of India denied being identified as privatization candidates, as there was no official news on that front. The crux of the legislation was to take two PSU banks, other than IDBI Bank, private during the current fiscal and will include a reversal of the Bank Nationalization Bills of 1970 and 1980.

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