IDBI Bank stake sale in limbo as govt faces legal hurdles in exit

The hurdle might push the government's plan to sell its entire stake in the lender to the next financial year

The government is facing legal challenges in exiting IDBI Bank. It might have to repeal the same legislation under which IDBI was incorporated as a bank, but annulling it could leave the lender without a banking licence.
 
This hurdle might push the government’s plan to sell its entire stake in the lender to the next financial year.
 
The finance ministry is in talks with the Reserve Bank of India (RBI) to make changes in the legislation so that the government's 47 per cent stake in IDBI Bank can be sold, a senior government official said.
 
The government