Government Confirms No Proposal to Privatize Public Sector Banks

The Government of India has informed the Lok Sabha that there are currently 12 Public Sector Banks (PSBs) operating in the country. These are State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India, Bank of India, Indian Bank, Central Bank of India, Bank of Maharashtra, Indian Overseas Bank, UCO Bank, and Punjab & Sind Bank.

No Proposal to Privatize Public Sector Banks

The Government has clarified that there is currently no proposal under consideration to privatize Public Sector Banks. In its reply to the Lok Sabha, the Ministry of Finance said that no decision has been taken to privatize any PSB at present.