Privatization of any Public Sector Bank in the current Fiscal Year is likely Not Possible the Main Reason behind is their Very Low Valuations and Very High Rise of NPA. And all the efforts regarding Privatization has gone into vein due to COVID 19 Infection is an another reason.
As of right now there is Four Public Sector Bank which is already under the PCA [Prompt Corrective Action]. If PCA is there then RBI puts lots of Restrictions on the lending, expanison, recruitment.
As per the sources Government was in the mood of Selling its Stake in the Four Public Sector which are Indian Overseas Bank (IOB), Central Bank of India, UCO Bank and United Bank of India moving ahead towards Privatization.
Now the Process has been halted due to the COVID 19 Infection and also due to Very Low Valuation of Privatisation.