Privatization: The Central Government is gearing up to provide more services to increase the competitiveness of banks in the country and bring them closer to the people …
Privatization: The Central Government is gearing up to increase the competitiveness of banks in the country and provide more services to bring them closer to the people. In this context, it is known that many public sector banks and insurance companies are deciding to privatize. The names of four public sector banks have already come to light and the name of an insurance company is also on the list.
Oriental Insurance, one of the leading insurers in the country after LIC, is likely to privatize one of the United India Insurance companies. According to sources in the central government, the names of the central government are also being considered. Information that the government is likely to look into these two companies in the light of the improvement in the financial condition of these two insurers with the help of existing capital.
In addition, another Rs 3,000 crore of capital assistance is likely to be provided during the quarter to further improve the financial situation. The process of privatizing one of these two companies also seems to have begun. Oriental Insurance, United India Insurance and New India Insurance are also on the list. Clarity on such news is likely to come in a few days.
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