Privatisation of banks seems to be off the table for now. The centre has no plans to pursue divestment of public sector enterprises in the run-up to the next general election in April or May 2024.
However, the finance ministry is hopeful that the IDBI Bank sale will go through in the current fiscal year. For more on this, let’s go across the Karishma. Sudani Krishna what about the two psbs that the Finance Minister had announced in the budget in 2021 are they on the back burner now.
Yes, not very hopeful of the fact if Government that is the Ministry of Finance along with Niti I hope will get back to the list that they had jotted down. In fact which also includes the mega to privatisation of public sector Banks which was also announced by a finance minister, named Milas in 2021 during the union budget followed by Nitiay.
Ok, then drafting a plan of action that would go to deep am but it looks unlikely because top sources in Ministry of Finance have told us that government is not looking to take up Bank privatisation or privatisation of new cpscs which is the central public sector entities until uh general elections that is in May 2024.
What’s the update on the IDBI bank sale? Karishma What’s the cause of concern in terms of the government? The information stands on the fact that the due diligence is still undergoing.
In fact, you’re also being told that the government is looking to call for the financial bits by September this year. They’re looking to at least complete the financial bid process and due diligence and open the data room in the first half of this year, followed by which the transaction could include before, uh, next March.
Let’s not forget that it’s a mega share of 60 percent that the government and LIC together are looking to sell.
