Govt advances disinvestment process for IDBI Bank, due diligence to begin in November: Report

The Indian government has accelerated the disinvestment process for IDBI Bank, with due diligence set to begin in November. The move comes as the government aims to reduce its stake in the bank by selling a majority share to private investors. Potential bidders have already shown interest, and the due diligence process will involve examining the bank’s financials and operational framework. The disinvestment is part of the government’s broader strategy to privatize public sector banks and improve their efficiency by bringing in private sector participation.