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Privatisation of public sector banks would run counter to the constitutional obligation of the Govt

In the Budget speech last year, the Finance Minister mentioned that the government would privatise a few PSU banks in due course. There are reports on statements originating from the Ministry that the government would introduce a Bill during the coming monsoon session for enabling it to privatise PSU banks in principle, create provision for outright sale and relax the cap on foreign equity holdings in them. DIPAM is also conducting road shows in the USA to sell IDBI Bank.
In this connection, we wish to caution the government about the legal and other far-reaching implications of privatising any PSU bank.

3M (Machine, Money, Media) challenges to India’s Electoral Democracy | Press Release

4/142, Venugopal Swamy Nagar 2nd Street, Parvathipuram, Nagercoil 629 003 Phone: 04652-259806; email: reclaimtherepublic@gmail.com M G Devasahayam IAS (Retd) D. Thomas Franco Chairman Convenor [9940174446] [9445000806] PRESS RELEASE [Jointly issued with Constitutional Conduct Group (CCG) of former Civil Servants] 3M (Machine, Money, Media) challenges to India’s Electoral Democracy Bengaluru, 2…

Electricity (Amendment) Bill-2022 will have far-reaching impacts on the finances of the States

Press Release Date: 30.06.2022 Prelude The Government of India (GoI), a few years ago, had unilaterally enacted the three farm laws, in addition to introducing a Bill to amend the Electricity Act-2003, without taking the States and the farmers’ association into confidence. Since both the farm laws and the Electricity Bill would adversely affect agriculture…