13 Mar 2026 | 5 Mins Read
India to scrap IDBI Bank privatisation plans
Flipitmoney
India will shelve bids for a majority stake in IDBI Bank due to prices being below the minimum reserve price sought. Bids below the expected price came from Fairfax Financial, Emirates NBD, and Kotak Mahindra Bank. IDBI Bank's 60.7% stake sale as part of India's privatization programme will be halted. The government owns 45.48%, with LIC holding 49.24% of the lender.