New Delhi: The government may introduce two key financial sector bills , including the proposed law for facilitating privatisation of public sector banks as announced by the finance minister in the Budget. The second batch of Supplementary Demands for Grants, allowing the government to undertake additional expenditure other than the Finance Bill, would also be introduced for approval.Finance Minister Nirmala Sitharaman while presenting the Budget for 2021-22 had announced the privatisation of public sector banks (PSBs) as part of disinvestment drive to garner Rs 1.75 lakh crore. Out of this, the majority of members are likely to be from the government as they, including states, are the biggest contributor to the corpus.The Trust was established by PFRDA for taking care of the assets and funds under NPS. The proposal to separate the two job roles has been under consideration for the last couple of years.The PFRDA was established for promoting and ensuring the orderly growth of the pension sector with sufficient powers over pension funds, the central record keeping agency and other intermediaries. It also safeguards the interest of members.

Source: Economic Times October 24, 2021 17:55 UTC