NEW DELHI: Congress on Tuesday said that it would oppose in the Parliament the amendment bill to pave the way for privatisation of two public sector banks.
The Central government plans a bill to make amendments to the Banking Laws Amendment Bill, 2021 to facilitate the privatisation of two government-run banks.
However, the government has not listed the bill for introduction in the monsoon session.
Congress general secretary and Rajya Sabha MP, Jairam Ramesh said, “Today, 53 years ago, banks were nationalised. It was a transformational change. Now, Modi Sarkar is on a privatisation spree.”
“Public sector banks must be equipped to face competition, but selling them off to a chosen few will be disastrous! Congress will oppose the Bank Sale Bill,” he wrote on Twitter.
In her budget speech for FY22, Sitharaman said, “We propose to take up the privatisation of two public sector banks and one general insurance company in the year 2021-22. This would require legislative amendments and I propose to introduce the amendments in this session itself.”
Since then, four sessions of the Parliament have gone but the bill is yet to be brought.