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

The article reports that financial bids for IDBI Bank are expected this fiscal year, despite the sale of PSU banks being on hold. The Department of Investment and Public Asset Management (DIPAM) Secretary mentioned that the bidding process is moving forward, indicating potential changes in the banking sector. The sale process has faced delays, but efforts are ongoing to complete the transaction. This aligns with broader initiatives to privatize government-owned banks and optimize public sector undertakings. The exact timeline for the bids remains uncertain, and further updates will depend on regulatory and administrative developments.