Is Govt shifting bank employees to state-run lender before privatisation BANK NEWS
Bank of Baroda, Canara Bank, Punjab National Bank, and the SBI are such banks that were in the process of consolidation.
New Delhi: The Union Finance Minister Smt Nirmala Sitharaman and the central government are likely to slash the NPAs and transferring certain employees of the banks to the state-run lenders before the privatisation of two banks which are mentioned by the finance minister in the Union Budget 2021-2022.
Additionally, it was also mentioned that recently banks that were part of the consolidation will not be considered for privatization. This process of shifting employees from the banks to state-run will further an attractive prospect for prospective buyers.
Bank of Baroda, Canara Bank, Punjab National Bank, and the State Bank of India are such banks that were in the process of consolidation. It is also mentioned that the candidates for privatization will be identified by the finance ministry along with the Niti Aayog in the coming 10 days.
Posted Date : 24-02-21
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