Key Points
The Reserve Bank of India has reportedly certified bidders for IDBI Bank as fit and proper", paving the way for the government to sell a big equity stake in the bank..
With this long-awaited clearance out of the way, the Centre will now grant qualified bidders access to confidential bank data for their assessment..
This is a shot in the arm for Indias languishing disinvestment programme, which got short shrift in the interim budget. Pleased with large dividends from state-run companies, New Delhi was thought to have lost its ardour for stake sales..
Movement on IDBI has raised the hope that this part of the reform agenda will be given greater priority.. Aso read: IDBI Bank share price jumps 7% on RBIs fit and proper report on bidders for privatisation..
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