FM Nirmala Sitharaman in her budget speech for FY22 had announced that the government will privatise two public sector banks and one insurer. The Niti Aayog has already sent a shortlist of PSBs to the group of ministers (GoM).
Banks identify NPAs worth Rs 89,000 cr to be transferred to NARCL in initial phase"The Indian Banks' Association (IBA) has asked lead banks to call for meetings and keep an approval ready so that as soon as the ARC is formed, they can start the process. I think the assessment in the first phase was of 22 accounts of about Rs 89,000 crore for the system," Rajkiran Rai G, who is the chairman of IBA, told reporters on Monday.
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