Govt not planning to introduce bill to facilitate privatisation of banks in monsoon session: Minister

The government is not planning to introduce any bill to make amendments to facilitate the privatisation of public sector banks in the ongoing monsoon session, Parliament was informed on Tuesday. As per list of business for monsoon session 2022 of the Parliament, no such bill has been listed for introduction, consideration and passing, minister of state for finance Bhagwat K Karad said in a written reply.

In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs (Public Sector Banks) in the year and approved a policy of strategic disinvestment of public sector enterprises.

In reply to another question, Karad said, the Economic Advisory Council to Prime Minister (EAC-PM) has not advised privatisation of all other PSBs in India except the

.

“As per Economic Advisory Council to Prime Minister, no such advice has been rendered by the EAC to PM,” he said.

Replying to another question, Karad said, banks have sanctioned Rs 9.98 crore under Pradhan Mantri Mudra Yojana (PMMY) to about 16.67 crore beneficiaries in the last three financial years.

During 2021-22, about 5.38 crore accounts received Rs 3.39 lakh crore under PMMY.

The Ministry of Labour and Employment (MoLE) has conducted a sample survey at the national level to estimate employment generation under PMMY, he said.

“As per the survey results, he said, PMMY helped in generation of 1.12 crore net additional employment during a period of approximately 3 years (i.e. from 2015 to 2018).

“As per findings of this survey, on an overall basis, loans under Shishu category accounted for 66 per cent of additional employment generated by establishments owned by MUDRA beneficiaries, followed by Kishore (19 per cent) and Tarun (15 per cent) categories,” he said.

Further, as on July 1, 2022, more than 7.66 crore loans amounting to Rs 6.12 lakh crore have been extended to new entrepreneurs/accounts under PMMY since inception of the scheme, he said.