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Fin Minister announced loan guarantee of 1.1 lakh crores to Corona affected areas

New Delhi: Union Finance Minister Nirmala Sitharaman has announced a grant of 50 thousand crores to the health sector.

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While making announcements related to some economic relief measures and bank privatization, the Finance Minister said that work is being done to strengthen the medical sector.

Along with this, she has announced a loan guarantee of 1.1 lakh crores to the corona affected areas. Apart from this, some big announcement is also possible on the privatization of banks.

Recently, a high level panel headed by the Cabinet Secretary discussed various administrative issues and regulation related to privatization of two public sector banks.

So that the proposal on disinvestment or alternative mechanism can be put before the Group of Ministers.

According to the announcement made by Finance Minister Nirmala Sitharaman in her 2021 budget speech, NITI Aayog has suggested some bank names for privatization to the Core Group of Secretaries on Disinvestment headed by the Cabinet Secretary in April.

According to a report in PTI, the Central Bank of India and the Indian Overseas Bank are said to be potential candidates for privatization.

The names of Indian Overseas Bank (IOB) and Central Bank of India (CBI) have been approved by a panel headed by Cabinet Secretary.

The government will raise funds by selling its stake in these banks. It is being speculated that the Finance Minister can also make an announcement in this regard. For the last several days, discussions are going on regarding the privatization of these banks.

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Mak Dell

Mak Dell Indian journalist is news publisher from desktop. Please contact or whatsapp +91-9198-624-866 for any issues. Our head office is in Gomtinagar, Lucknow (UP) India.

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