Bank Privatization Bill: A new plan has been made by the government to make the government bank private. This year the government is working fast on Bank Privatisation. To complete the disinvestment process, Finance Minister Nirmala Sitharaman gave information about privatization in the budget. Let us know the complete details about it.
A new plan has been made by the government to make the government bank private. This year the government is working fast on Bank Privatisation.
To complete the disinvestment process, Finance Minister Nirmala Sitharaman gave information about privatization in the budget. The government is expected to receive financial bids for the strategic sale of IDBI Bank (IDBI bank privatization news) by September.
DIPAM gave information
Giving information on Wednesday, Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), has said that many global and domestic institutions are interested in buying about 61 per cent stake of the government and Life Insurance Corporation of India (LIC) in IDBI Bank. Showing the initial bid whose last date was January 7.
Bids were invited in October 2022
Pandey has told ‘PTI-Bhasha’ that financial bids are expected to be received before the second half of the coming financial year (October-March). Bids were invited for the same in October, 2022. The government and LIC jointly hold 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic sale.
Who is involved in the shopping race?
Let us tell you that Carlyle Group, Fairfax Financial Holdings and DCB Bank are showing great interest in buying this bank.
In the midst of this news, a strong rise was seen in the shares of the bank on Wednesday. According to information received from sources, all of them can bid for about 10 percent stake in IDBI Bank.
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