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Government pushes IDBI Bank disinvestment process

Published on October 08, 2022
Current Context: Reserve Bank of India plans to privatize IDBI Bank and disinvest in it.
Government pushes IDBI Bank disinvestment process
  • Reserve Bank of India is considering tweaking the promoter criteria which will bring a wider pool of bidders for public sector banks.
  • The budget for 2021-22 proposed to privatize two public sector banks along with a general insurance company.
  • A new strategic disinvestment policy has categorized banking as a strategic sector where the government is aiming to maintain a bare minimum presence.
  • Current bank privatization has faced some encumbrances as the norms of RBI are cogent that any existing bank cannot promote a new bank.
  • The Banking Laws (Amendment) Bill, 2021 is yet to be introduced in the house.
  • One of the considerations is to allow the existing private banks to take a larger share in the public sector banks earmarked for privatization.

Question:

Q.1 In the Bank disinvestment process of IDBI, how many public sector banks are there?
a. 10
b. 11
c. 12
d. 13
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