Banking to be a ‘strategic sector’.

• The Centre is likely to designate the banking/financial sector strategic under the new privatisation policy, the contours of which are nearing finalisation.
• A top government official said discussions had also been held on privatising some state-owned banks that are not on the consolidation list so far.
• According to the new privatisation policy, announced by Finance Minister Nirmala Sitharaman as part of the ‘Atmanirbhar Bharat’ package, the government will come up with a list of strategic sectors.
• In each strategic sector, no more than four state-owned companies will exist.