Government Evaluating Financial Bids for Strategic Sale of IDBI Bank

The Indian government is evaluating financial bids for a strategic 60.72% stake sale in IDBI Bank, with the process moving at a steady pace.

Fairfax Financial Holdings and Emirates NBD submitted revised bids in July to acquire the majority stake held jointly by the central government and LIC.

Both prospective bidders possess security clearance from the Ministry of Home Affairs and fit-and-proper assessment from the Reserve Bank of India.