DIPAM secretary Tuhin Kanta Pandey says the transaction is ‘on course’ but there are aspects like the RBI s ‘fit and proper’ criteria which need to be complied with
India s central bank is expected to speed up the vetting process of potential buyers for IDBI Bank and complete it by the end of October. The government and Life Insurance Corp of India plan to sell a majority stake in the bank, and completing the process early could allow bids to be invited in the first quarter of next year.
The Reserve Bank of India (RBI) has begun evaluating at least five potential bidders interested in picking up a majority stake in state-owned IDBI Bank Ltd, Reuters report quoting three people familiar with the matter. It said that Kotak Mahindra Bank, Prem Watsa-backed CSB Bank and Emirates NBD are among those that have submitted expressions of interest (EoI). aaa