IDBI divestment unlikely this fiscal

Government expects higher dividend from RBI and PSBs during FY2024 to offset revenue implications from divestment

- Rhik Kundu , Gulveen Aulakh

The proposed sale of the government’s stake in IDBI Bank is unlikely to happen this fiscal, two people with direct knowledge of the matter said, posing a challenge to the Centre’s ability to meet the ₹51,000 crore disinvestment target for the year.

The government’s earlier plan involved issuing financial bids for IDBI Bank by December and completing the transaction in the fourth quarter of the fiscal. The government expected more than ₹15,000 crore from the IDBI Bank stake sale, the financial due diligence for which began in July.