NIN Web Desk : Dr subhrojyoti chattopadhyay; Big changes are coming in Indian banking world. The central government and Life Insurance Corporation of India are jointly selling 61 percent stake of the bank. Center will reduce stake in IDBI Bank (Public Sector Bank). Another state-owned bank to be sold though the process of privatization started in the banking world from January 2023. Various investors expressed interest in acquiring stake in the bank (IDBI Bank).
The central government is going to finalize the share purchase agreement within the privatization of IDBI Bank within this month. A senior official from the bank told the media that this privatization will be completed in the first half of the financial year 2026. The financial stakes will be raised very quickly. Arunish Chawla, secretary of the central government’s investment and public resource management department, told the media in an interview that the process of privatization is on the right track. But the final time has not been decided yet however, the central government has informed that this work is going on according to the plan.
LIC’s 30.24 per cent stake and the Centre’s 30.48 per cent stake in IDBI Bank will be sold. In this, the administration of the bank will also be transferred. At the same time, through this privatization, the central government aims to collect 47 thousand crore rupees from the market. However, no special allocation has been kept for IDBI Bank. It is learned that the process of due diligence has not yet been initiated through which prospective bidders can look at the financial information of the bank and make a decision accordingly, and through this the price is determined accurately, the bid amount is finalised.
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