Govt may defer privatisation plans for 2 PSU banks to FY23: Report

The Finance Ministry hasn't finalized modalities to seek approval from lawmakers for the sale, which leaves little time for process to be completed this year, people said, asking not to be named

India’s plan to sell two state-controlled lenders may get deferred to next financial year as the government is yet to seek parliament’s nod for changes in laws required to start the transaction, according to people familiar with the matter.

The Finance Ministry hasn’t finalized modalities to seek approval from lawmakers for the sale, which leaves little time for the process to be completed this year, the people said, asking not to be named as the information is not public. The government will seek buyers for two state-run banks by March 2022, Finance Minister Nirmala Sitharaman had said in February, as