Privatization of banks not mentioned in the list for the current session

No planning is made to introduce any bill or to institute or to make any amendments to facilitate the privatization of public sector banks in the ongoing monsoon session by the government, same was informed to the parliament on Tuesday. According to the list of business for monsoon session 2022 of the Parliament, there was no such bill been listed for introduction, consideration and passing, Bhagwat K Karad, the minister of state for finance expressed in a written reply. The government declared its intention to commence the privatization of two public sector banks in union budget for 2021-22, and further sanctioned a policy of strategic disinvestment of public sector enterprises

 Karad also said that the Economic Advisory Council to Prime Minister (EAC-PM) has not recommended privatization of all other PSBs in India except the State Bank of India. He  added that the banks have approved a fund of Rs 9.98 crore under Pradhan Mantri Mudra Yojana (PMMY) to about 16.67 crore grantees in the last three fiscal years. During 2021-22, about 5.38 crore accounts obtained Rs 3.39 lakh crore under PMMY.The Ministry of Labour and Employment (MoLE) had conducted a sample survey at the national level to estimate employment generation under PMMY. According to the survey PMMY helped 1.12 crore net additional employment in a duration of 3 years.

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