Speaking to reporters in the financial capital, Sitharaman also said that the government has no plan to form any bank investment company to house the government stakes in banks.
In the union budget presented last week, Sitharaman had announced the privatisation of two banks as part of its disinvestment plan. Bank unions have opposed the move.
“The details are being worked out. I have made the announcement but we are working together with the RBI,” she said, when asked about the proposal.
She, however, declined to comment on any specific details about which will be the candidate chosen for privatisation.
“We will let you know when the government is ready to announce,” she answered when asked about the details.
On the bad bank, Sitharaman said thegovernment may have to give some guarantee for the National Asset Reconstruction Company (ARC), but stressed that this is a solution which has come from the banks itself and will also be