It also named bosses for Bank of India, IDBI Bank Ltd and Punjab National Bank from within the state sector

The rupee fell 1.87 percent against the dollar this week, its biggest fall since late April.

New Delhi has missed its target for partial privatisations for the past five years

Finance Minister Arun Jaitley presents his maiden budget next month and faces headwinds from a weak economy, a food inflation scare and now the risk that higher oil prices could swell the government's oil subsidy bill.