IDBI Bank sell-off can set the stage for selling public-sector banks4 min read 17 Jan 2023, 10:03 PM IST
There is no real reason for the government to own and run 12 public-sector banks and IDBI Bank.
Tuhin Kanta Pandey, secretary of the department of investment and public asset management (DIPAM), while speaking to Business Standard, recently said that the Indian government intended to exit IDBI Bank completely, as it was not in the business of commercial banking. He also clarified that no roadmap or timeline had been set for this exit. In an interview to Mint, Pandey talked about the fact that the opportunity cost of a company staying government-owned has never actually been analysed. Both the points made by the DIPAM secretary are very important in the context of the government continuing to be in the business of banking and the costs that come with it.
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