Financial bids for IDBI bank likely this fiscal; PSU banks sale on hold: DIPAM Secretary

The government aims to receive financial bids for IDBI Bank by the end of this financial year, moving from the due diligence phase. DIPAM Secretary Tuhin Kant Pandey highlighted the complexities of strategic disinvestment, including management control shifts, regulatory approvals, and addressing employee-related issues. The disinvestment strategy aligns with broader public asset management goals.