Not all banks will be privatised, PSUs will have presence in financial sector, says Sitharaman

After privatisation, we will also have to ensure that the staff who are there, their every interest will be protected, she said

Finance Minister Nirmala Sitharaman on Tuesday said all public sector banks will not be privatised as bank unions went on a two-day strike against the government’s plans of privatisation.

“Not all of them are going to be privatised,” Sitharaman said. She added that the government has already made it clear that it would continue to have a presence in the financial sector.

The finance minister said the Centre will ensure that even the privatised banks continue to function seamlessly. “After the privatisation, we will also have to ensure that the staff or the personnel who are there, their every interest will be protected,” the minister said.

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Sitharaman slammed Congress leader Rahul Gandhi resorting to “two-liners” instead of engaging in a serious discussion.

“Rahul Gandhi has probably outsourced his comments to very hardcore communists who would give you solid two-liners. But these two-liners do not help the situation. I would want him to engage in serious discussion,” Sitharaman said.

She hit out at Congress, accusing the party of “nationalising corruption and privatising public money” during the 10-year UPA rule.

Nine bank unions had given a call for a two-day strike opposing the government's policy to privatise lenders. The strike ended on Tuesday.

“GOI is privatising profit and nationalising loss. Selling PSBs to Modicronies gravely compromises India’s financial security. I stand in solidarity with the striking bank employees,” Rahul Gandhi had said.

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