House Panel Okays Idbi & #8217;S Conversion To Bank
The parliamentary standing committee on finance has cleared the repeal of the IDBI Act and has recommended the corporatisation of the institution and its conversion into a bank.
It has also recommended a five-year tax holiday in addition to the sops proposed by the government.
The decision was taken at the meeting of the standing committee last week, government sources told Business Standard.
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They added that the parliamentary panel was, however, of the opinion that IDBI's focus on development should be retained.
The sources said the committee endorsed the finance ministry