The government will set up a new government bank amid the privatization of state-owned banks, this is the reason

New delhi date. 25. Thursday, March, 2021

Amid privatization of state-owned banks in the country, the central government has now approved the setting up of a new state-owned bank.

On Thursday, a bill was passed in Parliament to create a National Bank for Financing Infrastructure and Development. The government will initially provide Rs 20,000 crore to the bank.

Finance Minister Nirmala Sitharaman said the bank would create new jobs. Earlier, it was approved by the Lok Sabha on March 23 and today by the Rajya Sabha. With this in mind, the government has approved the bank.

Experts believe that the infra project needs capital, so it was very important to set up such a bank. Large pension fund, insurance fund money will be invested in this bank. This type of fund will also get tax exemption and the bank will get capital.