Kotak Mahindra Bank to buy IDBI Bank? BIG update from RBI https://t.co/oZ63yKcaBx
#LeadStoryOnET | Kotak to buy IDBI Bank? RBI identifies eligible bidders for state bank's stake sale https://t.co/jTwW0KWQ0N
#MCExclusive 🚨 | 🏦 Yes Bank stake sale hinges on bidders agreeing to local banking norms.💼 See what @humsitweets has to report on this⤵️ https://t.co/4rebHLjR93 #YesBank #Stake #Sale #BankingNorms
The Reserve Bank of India (RBI) has granted 'fit and proper' certificates to three potential suitors for the privatization of IDBI Bank, clearing a significant hurdle in the process. The candidates include Fairfax India, Emirates NBD, and Kotak Mahindra Bank, although sources indicate that Kotak may not be keen on pursuing the acquisition at this time. The Department of Investment and Public Asset Management (DIPAM) Secretary has noted that financial bids for IDBI Bank are expected to be submitted within the current fiscal year, while the sale of public sector banks remains on hold. Fairfax India is reportedly positioned to lead the acquisition with a 60.7% stake in IDBI Bank, according to exclusive reports. The RBI's endorsement is a crucial step that paves the way for these entities to potentially take over the bank.
