IDBI Bank's potential investors receive Home Ministry security clearance for 61% stake sale, awaiting RBI approval.
IDBI Bank's potential investors received necessary security clearance from the Home Ministry, with final approval from the Reserve Bank expected soon. The government, in conjunction with LIC, is offloading a majority 61% stake, which includes 30.48% from the Government of India and 30.24% from LIC. The strategic sale of the state-run lender is anticipated to be completed this fiscal year.
July 24, 2024
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