Govt Pushes IDBI Bank Disinvestment Process

Govt Pushes IDBI Bank Disinvestment Process

• After facing challenges in the plan to privatise IDBI Bank, the government has asked the Reserve Bank of India to consider tweaking the promoter criteria that may bring a wider pool of bidders for public sector banks. There are currently 12 public sector banks.
• The Budget for 2021-22 (Apr-Mar) had proposed privatising two public sector banks and one general insurance company. Privatisation of public sector banks will require legislative amendments. The Banking Laws (Amendment) Bill 2021, which was listed for business in the Winter session last year, has not yet been introduced in Parliament due to protests by bank unions.

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Published date : 10 Oct 2022 06:05PM