2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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BoI and Canara Bank
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IOB and PNB
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Central Bank of India and IOB
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Canara Bank and Bank of Maharashtra
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Detailed explanation-1: -The central government is planning the privatization of several companies, including BEML, Shipping Corp, Concor, Vizag Steel, IDBI Bank, Nagarnar Steel Plant of NMDC and HLL Lifecare.
Detailed explanation-2: -Why in News? In the Union Budget 2021-22, the government announced its decision to privatise two Public Sector Banks.
Detailed explanation-3: -The markets must see value in the chosen banks to attract two or more buyers. Even as NITI Aayog suggested privatisation of the Central Bank of India and Indian Overseas Bank, the report recommends Indian Bank and Bank of Baroda as the two top choices for privatisation.
Detailed explanation-4: -In the budget for 2021-22, Finance Minister Nirmala Sitharaman had announced the privatisation of two PSU banks without naming them. Media reports, including by The Economic Times and Mint, suggest that the lenders in question could be the Central Bank of India and Indian Overseas Bank.