
IDBI Bank divestment on track: Govt
The central government and LIC together plan to sell 60.72% of shares in IDBI Bank.
The central government and LIC together plan to sell 60.72% of shares in IDBI Bank.
In spite of Lok Sabha elections next year, government steers clear of short-term populist measures and focuses on strengthening the economy.
The Centre has invited EoI to kickstart the IDBI Bank sale process, and both govt and LIC aim to divest a little over 30% stake each in the bank.
The sale of Central Electronics Limited was approved to Nandal Finance worth ₹210 crore in November last year.
Tuhin Kanta Pandey says the Centre is preparing an expression of interest, following which preliminary bids will be invited from investors.
Over two dozen government companies flouting rule on minimum public shareholding norms
The central government is looking to divest its entire stake in FSNL and transfer management control through the disinvestment process.
The value excludes the government stake in public sector banks where stake sale has not begun yet.
The monetisation agenda has been led by the roads sector, followed by power and mining.
India needs to double capital expenditure on a medium-term basis, says Secretary, Department of Economic Affairs.