Govt to work with RBI to execute bank privatisation announced in Budget: FM Finance Minister Nirmala Sitharaman also said that the government has no plan to form any bank investment company to house the government stakes in banks BusinessToday.In | February 7, 2021 | Updated 18:49 IST Finance Minister Nirmala Sitharaman had proposed privatisation of two banks in Union Budget 2021 Finance Minister Nirmala Sitharaman on Sunday said the government will work with the Reserve Bank of India (RBI) for execution of the bank privatisation plan announced in the Union Budget 2021. The FM, however, did not reveal the name of banks chosen for privatisation. Speaking to reporters in Mumbai, Sitharaman also said that the government has no plan to form any bank investment company to house the government stakes in banks.