NEW DELHI : Fitch Ratings on Monday said the plan to privatise two state-owned banks in the current financial year ending March 2022 could face delays amid renewed challenges for the Indian banking sector due to the second wave of Covid-19.
The government in the Budget announced plans to privatise two public-sector banks. NITI Aayog has been entrusted with the task of selecting the banks and one general insurance company for the privatisation. "The Indian government's plan to privatise two state-owned banks in the current financial year (FY22, ending March 2022) could face delays amid renewed challenges for the Indian banking sector," Fitch said in a statement.