Bankers are constantly opposing the privatization of public sector banks. According to media reports, the Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, and Bank of India are going to be privatized. The privatization of banks was announced in the budget presented on 1 February. Currently, there are plans to privatize two state-run banks in FY 2021-22. It is being said in media reports that the name of Indian Overseas Bank, Bank of India, Bank of Maharashtra, Central Bank is mentioned in the list of privatization. However, no decision has been taken so far.

2 out of 4 banks are to be privatized in FY 2021-22. In the banking category, the government is considering selling participation in mid-size and small banks under the first phase of privatization. It is being told that in the coming years, the government can also bet on big banks of the country. Vivek Mittal, head of research, VM Portfolio, said that the government wants to have only 5 banks in the country. Other banks will either be merged or they will be made private. It is being told that the government will merge those banks whose exposure will be all over India.

Bankers protesting the privatization of banks had gone on a two-day strike in the past. There is also skepticism among customers about the potential impact on bankers. Experts, however, say that privatizing public sector banks will not have any significant impact on customers. The bank's services continue as before. Reserve Bank of India Governor Shaktikanta Das said on Thursday that "we are discussing with the government the privatization of public sector banks and the process will be taken forward". 

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