Fatafat headlines at this hour | 31.9.2022

The central government is likely to invite preliminary bids for selling a stake in IDBI Bank next month and the discussions with the RBI are at the final stages, an official said.

"There are still some pending issues that need to be discussed with the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI). We are hopeful of issuing the EoI by September," the official told PTI.

The official, however, did not divulge details of regulatory issues on which the government is holding discussions with banking and equity market regulators RBI and Sebi, respectively.

"Since IDBI Bank would be first of its kind with regard to privatisation in the banking sector, we are expecting a lot of investor queries to come in once the Expression of Interest (EoI) is floated. The stake sale is unlikely to conclude this fiscal," the official added.