RBI approves investors for IDBI Bank's privatisation, paving the way for 60.7% government disinvestment.
The Reserve Bank of India (RBI) has approved potential investors for IDBI Bank's privatisation, a crucial step in the process, which could generate over Rs 29,000 crore with the bank's market capitalisation of approximately Rs 99,780 crore. The central government aims to disinvest 60.7% in the bank, including shares owned by LIC. The RBI's approval allows the government and LIC to proceed with the privatisation process, with the Union Budget 2024 expected to provide further clarity on disinvestment strategy.
July 18, 2024
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