Niti Aayog submits names of PSU banks to be privatised

Niti Aayog recently submitted to the Core Group of Secretaries on Disinvestment the finalised names of PSU banks to be privatised in the current fiscal as part of the disinvestment process.

Daily Current Affairs Quiz 2021

Privatization of banks is a process of transferring the management and ownership from the government to the private sector.

And monetary policy is decided after analyzing the economic situation of the country to make sure that interest rates are not too high or too low.

Niti Aayog has been entrusted with the task of selection of names of two public sector banks and one general insurance company for the privatisation as announced in the Budget 2021-22.

The government has budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one insurance company, during the current financial year.