New Delhi: In the budget, the Central government had announced privatisation of banks. Finance Minister Nirmala Sitharaman in her budget speech talked about privatisation of two public sector banks. According to the government's announcement, the central government may sell its stake in the Central Bank of India and Indian Overseas Bank. But now there are reports that the government may also sell its stake in Bank of India (BOI).

According to media reports, NITI Aayog has also recommended the names of two banks. But according to sources, the name of the BOI is now coming up for bank of stake sale. Based on the share price, the market value of Central Bank and Indian Overseas Bank is Rs. 44,000 crore, with the market capitalization of Indian Overseas Bank at Rs 31,641 crore. Earlier, NITI Aayog has handed over the names of public sector banks to be privatised in the current financial year under the disinvestment process.

During the budget, an insurance company was also talked about with the banks. NITI Aayog has been entrusted with the responsibility of selecting the names of two public sector banks and an insurance company for privatisation. The budget for the financial year 2021-22 announced privatisation. Media reports say that bank of Maharashtra and Indian Overseas Bank topped the list for privatisation.

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