Privatisation of IDBI Bank in Full Swing: What Lies Ahead?

The privatisation process of IDBI Bank is advancing, with the government and LIC selling 61% stake. Qualified bidders are undergoing rigorous due diligence, having received security clearances and fit evaluations. Employee concerns are being considered in the strategic sale's terms.

The privatisation of IDBI Bank is progressing steadily, according to Minister of State for Finance Pankaj Chaudhary. The government and LIC are jointly divesting a 61% stake.

A detailed due diligence process for qualified bidders is underway, following necessary security clearances by the Ministry of Home Affairs and evaluations by the Reserve Bank of India.

Concerns of IDBI Bank employees are being addressed in the share purchase agreement, ensuring their interests are considered in the terms of the strategic sale.

(With inputs from agencies.)