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The Central Government led by Prime Minister Narendra Modi is contemplating for privatisation of the nationalised banks for quite some. It was not surprising when the decision was announced by the Union Finance Minister, Nirmala Sitharaman, while presenting the budget recently. She also made it crystal-clear that the government’s intention is to fine-tune the performance of the public sector banks and the privatisation would only augur well for their long-term growth. She was also not averse to informing that henceforth the private banks would take care of the government-related work like the Income Tax and Pension scheme, instead of the nationalised banks, speaks volume of the government’s seriousness in facilitating the process.
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