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IDBI Bank disinvestment
October 23 , 2022
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- 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 bank privatisation has come a cropper because RBI’s norms are clear that no existing bank can promote a new bank, and the same promoter cannot promote another bank.
- 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.
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