Financial Sector Reforms Plan To Be Unveiled Post Elections

The govt will cut its stake in five PSBs this fiscal to comply with Sebi’s listing guidelines

- Subhash Narayan

The Bharatiya Janata Party-if re-elected-will roll out reforms in the financial sector T in a time-bound manner as part of the government's 100day agenda, said two people with knowledge of the matter.

The roadmap includes privatization of one or more public sector bank anda general insurer, stake sale in five public sector banks (PSBs), creation of at least one mega-global bank and strengthening the digital infrastructure.

The decision on financial sector reforms is in sync with the Viksit Bharat 2047 plan, which has two roadmapsone for the first 100 days and another for five years, to strengthen the foundations.

According to one of the persons cited above, the reforms will also include complete stake sale and privatization of loss-making Industrial Finance Corporation of India and launch of an initial public offer (IPO) for India Infrastructure Finance Company Ltd within weeks of a new government taking charge.