It is reported in Business Line today, 24th August 2011, that the Planning Commission has advocated dilution of government equity in PSU Banks to below 51%. This in fact means that the PSU Banks are going to be privatised. Already, the government is considering for allowing private business houses to start banks. In addition, the government wants to privatise the Public Sector Banks also.
The UPA II government is going fast with its disinvestment /privatisation plans. Unless strong struggles are organised and the common people mobilised against these so called reforms, no PSU will exist in future.