Soon 2 Public sector banks will privatise as Banks Privatisation Process Started again After Election. The finance ministry will soon take cabinet approval for amendments to the Banking Regulation Act, 1949 and possibly other legislation related to bank privatisation . It will lead to restart the process to privatise two public sector banks . The proposed changes in BR Act may include the removal of the 20% foreign investment cap applicable to public sector banks
It is expected that a more attractive voluntary retirement scheme (VRS) will be launched for employees of two banks which are to be privatise .
Draft for Privatisation already prepared which is having proposed amendments. All relevant suggestions and a final proposal will soon be put for final consideration and approval of the cabinet.
Watch Following Video to know further details and names of 2 banks to be privatise :