Finance Minister Nirmala Sitharaman on Tuesday informed Parliament that the union cabinet has not taken any decision “on the proposed privatisation of two public sector banks (PSBs),” according to ndtv.com.

In fact, she had declared the proposal of privatising two public sector banks during her budget speech for 2021-22.

In a written response to a question in Rajya Sabha, Sitharaman said, "Consideration of various issues related to disinvestment is entrusted to the Cabinet Committee designated for this purpose. Decision by the Cabinet Committee has not been taken in this regard."

The Banking Laws (Amendment) Bill 2021, entailing privatisation of public sector banks, was listed in the ongoing Winter session of the Parliament but with the session ending on December 22, “the move is all set to be delayed,” ndtv.com added.

And it added, “On November 16, NDTV had exclusively reported that the government may not bring the Banking Laws (Amendment) Bill 2021 during the ongoing Winter session of Parliament, as it plans to have a relook at some key aspects related to the entire exercise before going ahead with the move.”

Sources added the current market scenario is conducive for bringing the legislation and “discussions are likely to be held with the Reserve Bank of India (RBI) before a final decision is taken on it.”

The impact of the Coronavirus pandemic and the rise of the omicron have also influenced the government's thinking.