Priya
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New Delhi. SBI said in a research report on Monday that public sector banks (PSBs) are currently in a very good position and the government should move forward towards their disinvestment. The report also advocated consolidation of existing PSBs.
Regarding the privatization of IDBI Bank, the report states that the government and LIC are selling about 61 percent of its stake. Bids were invited for this in October 2022. In January 2023, several letters of interest were received to buy the stake of IDBI Bank.
We hope that the government will clarify this in the budget. Currently, the government has more than 45 percent shares of IDBI Bank and LIC has 49.24 percent shares. The report has also recommended changes in tax on deposit interest. The report also talks about bringing reforms in bankruptcy laws.
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