Union Finance Minister Nirmala Sitharaman at Lok Sabha during the Budget Session of the Parliament, in New Delhi, Monday, Feb. 1, 2021.
Union Finance Minister Nirmala Sitharaman at Lok Sabha during the Budget Session of the Parliament, in New Delhi, Monday, Feb. 1, 2021.
PTI

For a while now, the government; and the public sector banks’ employees along with the Unions have been at loggerheads over privatisation. While many previous governments have spoken about the privatisation of public sector banks, the present government is more likely to tighten the screw on this.

To oppose this move, the public sector banks went on a two-day strike on March 15 and March 16. But the government is adamant about going ahead with privatisation. At the same time, the Finance Minister on several occasions has informed the bankers that the Finance ministry and she is ready to engage with all stakeholders.

During an event of Economic Times, Sitharaman was trying to ensure that she is ready to engage.

She said, “I hope to engage all those who have any reservation on bank privatisation. I need the economic activity to continue, so there is no foreclosure. We are selling it to be in business because I can't run it efficiently,” Sitharaman said.

This statement by the former defence minister has opened the floodgates. She has been criticised for not being capable of running banks. So, she should step down. Many Twitter users have tweeted asking her to resign.

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