Government's top secretaries to revisit IDBI Bank sale April 27
Business
The government's top secretaries are set to revisit their plan for selling IDBI Bank on April 27.
This comes after earlier bids did not quite hit the mark, so they are reworking the bank's valuation to better match today's market.
Finance Minister Nirmala Sitharaman has reassured everyone that, even with these hiccups, the privatization is still moving ahead.
IDBI valuation and buyer interest
This meeting will focus on updating how much IDBI Bank is worth and checking if there is enough real interest from buyers.
The sale is a big deal: it would transfer control of more than 60% of the bank (currently held by the government and LIC) to private hands, marking a major step in India's push to modernize its banking sector.