Gradual approach to PSB privatisation will result in better outcomes: RBI

Mumbai, August 19

The RBI on Friday issued a clarification on a report related to the privatisation of public sector banks, as published in the August 2022 issue of the RBI Bulletin, saying it does not represent the central bank’s views.

RBI clarifies

As clearly stated in the article itself, the views expressed in the article are those of the authors and do not represent the views of the central bank.

“This is regarding reports in certain sections of the media stating that the RBI is against privatisation of public sector banks (PSBs). These media reports have cited an article titled “Privatisation of Public Sector Banks: An Alternate Perspective” published in the August 2022 issue of RBI Bulletin. The article is authored by researchers of RBI,” RBI said in a clarification.

The RBI clarified that the press statement relating to the August 2022 Bulletin highlights that “the gradual approach to privatisation adopted by the government can ensure that a void is not created in fulfilling the social objective of financial inclusion”. — ANI