Not all banks will be privatised: Nirmala Sitharaman

New Delhi: Union Finance Minister Nirmala Sitharaman has assured that not all banks will be privatised and wherever it happens, the interest of the employees will be protected.

Addressing the media amid a two-day nationwide bank strike called by nine unions against the proposed privatisation, she said, "The decision of privatization is a well thought out decision. We want banks to get more equity... We want banks to meet the aspirations of the country".

She said the government would ensure protection of employees' interests even after the banks are privatised. "It's not right to say that every government bank is being sold-off. We will absolutely be protective of employees who have given decades to these banks…their salary, their pensions will be protected," she said.

"Public sector enterprise policy very clearly says that we will continue with PSBs. Interests of the workers will absolutely be protected," she added.

Banking operations across the country are partially hit as the United Forum of Bank Unions (UFBU) has called a nationwide strike to protest against the proposed privatisation of two state-owned lenders.

The strike comes about a month after the Finance Minister, while presenting the Union Budget, announced the privatisation of two public sector banks (PSBs) as part of the government's disinvestment plan.