IDBI Bank: The Central Government is continuously disinvesting the assets of public sector undertakings. Recently the Center is moving ahead with another massive investment withdrawal case.
IDBI Bank: The Central Government is continuously disinvesting the assets of public sector undertakings. Recently the Center is preparing for another massive investment withdrawal. The sector is preparing to privatize a public sector bank. The central government intends to sell its stake in IDBI Bank. The announcement was made by Tuhin Kanta Pandey, Secretary, Central Government Asset Management and Investment. It was revealed that the government has decided to sell its stake in the bank. However, he said it was not yet clear to what extent the shares would be sold. The Center has a 45.48 per cent stake in IDBI Bank. He said the Union Finance Ministry was working on whether to sell the entire stake at the market price at once or only a portion. Only last year, the central finance ministry approved the sale of shares in the bank. It has also made the necessary amendments to the law.
The central government has announced that the process will begin soon. The Center has also introduced a new feature called Paytm Money for the smooth running of LIC IPOs. Through this Rs. 5 lakh worth of shares can be bid through UPI. This facility has been made available as per the guidelines issued by SEBI. Prior to the implementation of this facility, each investor had to pay only Rs. Only up to Rs 2 lakh could be bid through UPI.
LIC IPO is in high demand in the market. Many companies are interested in buying. More than 25 investors are already interested in buying LIC shares, according to the Finance Ministry. “Overseas investors as well as foreign investors are showing interest in the IPO,” she said. The Center plans to expedite welfare and development work with the funds raised through this. The Center hopes that the country’s economic progress can be accelerated by raising the necessary funds to contribute to the country’s economic progress. That is why the Center is trying to complete the privatization process as soon as possible.
Read these ..
Travel: You will be mesmerized by the beauty of these 5 lakes in India
Water Expiry Date: Will water also expire ..? Why is the expiry date written .. this is the real thing ..