DEBUNKED: Did NITI Aayog release a list of Indian banks for privatisation?

Is it true that NITI Aayog, an Indian policy think-tank, has released information with regard to the privatisation of Indian banks? As per multiple reports, the so-called list enlists banks which will be kept out of the privatisation process and some other information about the upcoming plans on the same.Two banks and one general insurance company may be privatised in the future, as per the circulated news. Before getting clarity on whether the news is correct or not, let us look at its background of it. The government consolidated four out of ten banks in August 2019, reducing the country's overall number of public sector banks from 27 to 12.

The Oriental Bank of Commerce and United Bank were merged into PNB, according the proposal. Canara Bank andSyndicate Bank were consolidated.Union Bank was consolidated withAndhra Bank and Corporation Bank. The merger of Indian Bank and Allahabad Bank also took effect on 1 April, 2020.

So will State Bank of India be privatised?

According to the circulated news, Punjab National Bank, Union Bank, Canara Bank, State Bank of India, Indian Bank and Bank of Baroda will not be privatised. Moreover, the circulated news also said that none of the banks that were there in the consolidation process is eligible to participate in the privatisation process.The Indian government has set a current disinvestment objective for FY22 of Rs. 1.75 lakh crore.

All India Radio Service clears air

According to All India Radio Service, NITI Aayog has denied releasing any list of banks which are to be privatised.

Taking to Twitter, the Indian Public Service Broadcaster, wrote, "NITI Aayog says that a fictitious message is being circulated in media regarding list shared by #NITIAayog on privatization of Public Sector Banks. It clarifies that no such list has been shared by@NITIAayogin any form."