The disinvestment of national carrier, Air India will take place on January 27, a top official said on January 24. “The next three days will be hectic for our department and I request all of you to give your best in these last three four days before we get divested,'' informed director finance to employees. In 2021, Tata Group had won 100 % stake in the airline.
Courtesy: ANI News
The Centre may include the Central Bank of India and Indian Overseas Bank in the next round of privatisation, as per the government sources. Reportedly, the two banks have been suggested by the NITI Aayog, and they are being analysed by the disinvestment and financial services departments. The sources added that "the timeline [for the privatisation of state-run banks] will depend on the legislative changes required."
Courtesy: The Times of India
The Centre is planning to divest its shares in Delhi, Mumbai, Bangalore, and Hyderabad airports. Besides these, under the asset monetization pipeline, the government has planned to divest 13 more airports in 2020-21. The Civil Aviation Ministry will soon apply for the approval in this regard before the Cabinet. Earlier, Adani group acquired six airports in the first disinvestment round. The government is targetting Rs 1.75 lakh crore from… read-more
Courtesy: The Economic Times
Opposing the privatisation of public banks, United Forum of Bank Unions has planned a two-day strike from March 15. The strike will supposedly hamper functioning of all major banks, including SBI, as "about 10 lakh bank employees and officers of the banks will participate in the strike". Alarmed by the government’s privatization strategy, the protest is against the Finance Minister's call to privatise two more banks in the Union Budget 2021… read-more
The Reserve Bank of India (RBI) on March 10 stated that private lender IDBI Bank has been removed from its prompt corrective action (PCA) framework after four years. Reportedly, the IDBI's removal resulted from the bank's refined financial and credit profile, especially in regulatory capital, net non-performing assets, and leverage ratio. Besides enabling amplification of business, the freshly granted immunity may facilitate strategic… read-more
Courtesy: Business Standard
Opposing Centre’s decision to privatise two public sector banks, the United Forum of Bank Unions (UFBU) on February 9 called for a two-day strike starting from March 15. Reportedly, this year's Budget witnessed the FinMin stipulating the privatisation of two PSBs under its disinvestment strategy. Earlier, the Centre had privatised IDBI Bank and had merged 14 PSBs in four years. Calling the alterations regressive, UFBU has exhibited resentment… read-more
Courtesy: The Hindu
Civil Aviation Secretary Pradeep Singh Kharola on January 4 notified that in the third round of airport divestments, around ten airports will be privatised. Besides, the Airports Authority of India (AAI) is contemplating on selling loss-making airports along with few successful ones. The government also hinted of privatising about 20 to 25 airports in the upcoming days. Earlier, during the second round, the Centre had sanctioned the… read-more