Business Standard

Centre starts talks with RBI to kick off bank privatisation process

The process of bank privatisation would be different from the sale of any other PSU, and more restrictions and measures will have to be put in place, the official said

The changes will help in putting a framework in place for the privatisation of the other two PSBs that the government had announced in the Union Budget.
Premium

The changes will help in putting a framework in place for the privatisation of the other two PSBs that the government had announced in the Union Budget.

Nikunj Ohri New Delhi
The government is set to initiate consultations with the Reserve Bank of India (RBI) to devise a new security clearance framework for screening potential bidders of public sector banks (PSBs) as it kick-starts the privatisation process, beginning with the strategic divestment of IDBI Bank.
 
As the government is moving ahead with strategic divestment of IDBI Bank and is looking to privatise two PSBs, the Department of Investment and Public Asset Management (DIPAM) is looking to put in place an appropriate framework as the potential buyers will have to meet the RBI’s fit and proper criteria, said an official.
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 28 2021 | 6:06 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com