In fact, Financial Services Department Secretary M. Nagaraju said on May 5 that the strategic sale of stake in IDBI Bank will be completed in 2025. Today, on Monday, the bank’s shares were trading at Rs 80.84, up 1.21% during trading.

What did Nagaraju say?

“The stake sale in IDBI Bank will be completed this calendar year,” Nagaraju said during the listing ceremony of First Residential Mortgage Backed Securities. The Centre and Life Insurance Corporation of India (LIC) are jointly planning to sell 61 per cent stake in the lender, including 30.48 per cent held by the government and 30.24 per cent held by the insurance firm.

In January 2023, the government had received multiple expressions of interest (EOIs) for the sale of 60.72 per cent stake in the bank. The shortlisted bidders are currently engaged in due diligence. For the financial year 2025-26, the Centre has set a disinvestment and asset monetisation target of Rs 47,000 crore. The IDBI Bank transaction is expected to be one of the most important contributors to achieving this target along with other disinvestment plans.

march quarter results

IDBI Bank’s net profit in the fourth quarter of FY 2024-25 rose 26 per cent year-on-year to Rs 2,051 crore. The bank’s net profit in the fourth (January-March) quarter of FY 2023-24 was Rs 1,628 crore. Net profit for the entire financial year 2024-25 grew 33 per cent year-on-year to Rs 7,515 crore. It was Rs 5,634 crore in FY 2023-24. Total income increased to Rs 33,826 crore in the previous financial year, from Rs 30,037 crore in 2023-24.

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The post Bank Privatization: THIS govt bank will be sold by the end of this year! The official gave the information first appeared on Rightsofemployees.com.

The government has decided to privatize many banks and companies, on which work is going on fast. Presently government employees are opposing it.

All banks except SBI can be private

At the same time, two leading economists of the country say that the government should hand over all government banks except State Bank of India to private hands. Apart from this, NITI Aayog has told that 6 government banks of the country will not be privatised.

NITI Aayog had released the list

In the list issued by NITI Aayog, it has been told that the government will not privatize Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.

The merger of banks took place in August 2019.

Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.

The Finance Minister had announced that the Finance Minister had announced in last year’s budget that IDBI Bank would be privatised. The government has made a plan to sell its stake in this bank. The process has moved forward regarding this. Despite the continuous protest, the government has already cleared its stand regarding privatization. Along with this, the Finance Minister had also said that it will be sold to an insurance company.

The post Bank Privatization: Big news account holders! All these banks will become private, full list released by the government first appeared on Rightsofemployees.com.

The government has decided to privatize many banks and companies, on which work is going on fast. Presently government employees are opposing it.

All banks except SBI can be private

At the same time, two leading economists of the country say that the government should hand over all government banks except State Bank of India to private hands. Apart from this, NITI Aayog has told that 6 government banks of the country will not be privatised.

NITI Aayog had released the list

In the list issued by NITI Aayog, it has been told that the government will not privatize Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.

The merger of banks took place in August 2019.

Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.

The Finance Minister had announced that the Finance Minister had announced in last year’s budget that IDBI Bank would be privatised. The government has made a plan to sell its stake in this bank. The process has moved forward regarding this. Despite the continuous protest, the government has already cleared its stand regarding privatization. Along with this, the Finance Minister had also said that it will be sold to an insurance company.

The post Bank Privatisation List: All these banks will become private. Full list released by the government first appeared on Rightsofemployees.com.

For some time, the issue of privatization of public sector banks is being discussed loudly. The central government has merged 27 public sector banks into 12 banks within just three years by merging several big public sector banks under banking reforms. By the way, the government has also said that the banking sector will be recognized as a strategic sector regarding the issue of privatization.

Once again the news regarding the privatization of banks has intensified. Preparations are being made for big planning by the Government of India regarding the banks.

In this connection, NITI Aayog has also issued a list, in which it has been told that in the coming time, which banks will be privatized and which will be kept out of the list.

These banks will not be privatised-

According to the list released by NITI Aayog, the government will privatize Punjab National Bank (PNB), Union Bank (Union Bank), Canara Bank (SBI), Bank of Baroda (BOB) ) and will not privatize Indian Bank.

These are included in the list of privatization –

Along with this, the commission has also written in the notice that all those banks which were part of the bank consolidation of the country will be kept out of the list of privatization. It was announced in the budget speech by Finance Minister Nirmala Sitharaman that two public sector banks and a general insurance company would be privatised. The current disinvestment target for FY22 announced by the government is Rs 1.75 lakh crore.

This bank will be privatized –

Government and LIC together are trying to sell 60.72 percent stake in IDBI Bank. Last month, the government had said it would allow a consortium of foreign funds and investment firms to acquire more than 51 per cent ownership of IDBI Bank. Sources said the Department of Investment and Public Asset Management (DIPAM) may invite financial bids for IDBI Bank in early 2023.

The post Bank privatization list released: Big alert for Customers! These government banks will be private, NITI Aayog released the list, see list first appeared on Rightsofemployees.com.

This decision is now gaining momentum. Tell that, even before this, the Central Government has privatized many banks from the government. Government employees are strongly opposing this decision of the government.

According to the information, two prominent economists have given their opinion that the government should privatize all other government banks except State Bank of India. While giving its verdict on this, NITI Aayog has said that 6 public sector banks of the country will not be handed over to private hands.

Giving information, government officials have said that all those banks which have been part of the government bank consolidation should not be privatised, a list has been issued by NITI Aayog.

It has been told that Union Bank, SBI, Bank of Baroda, Canara Bank and Indian Bank, these banks will not be privatized by the government. The government has also said that 6 banks will be kept government only.

Remind you that the Finance Minister had announced in last year’s budget that IDBI Bank will be privatized soon. The government wants to sell its stake in this bank. The process of this process is still going on.

This decision of the government is being continuously opposed. Despite this, the government is firm on its stand. Along with this, the Finance Minister had also said that an insurance company would also be sold.

As you know, the merger decision of 4 out of 10 banks was taken by the government in August 2019. Since then the number of public sector banks in the country has come down from 27 to 12.

The government has not yet taken any decision regarding the privatization of these banks, the Finance Minister has made it clear that all these banks will be kept out of privatization.

The post Bank Privatization List: Big news for Customers! The government has released the complete list of all the banks going private, see list first appeared on Rightsofemployees.com.

The government has decided to privatize many banks and companies, on which work is going on fast. Presently government employees are opposing it.

All banks except SBI can be private

At the same time, two leading economists of the country say that the government should hand over all government banks except State Bank of India to private hands. Apart from this, NITI Aayog has told that 6 government banks of the country will not be privatised.

NITI Aayog had released the list

In the list issued by NITI Aayog, it has been told that the government will not privatize Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.

The merger of banks took place in August 2019.

Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.

The Finance Minister had announced that the Finance Minister had announced in last year’s budget that IDBI Bank would be privatised. The government has made a plan to sell its stake in this bank. The process has moved forward regarding this. Despite the continuous protest, the government has already cleared its stand regarding privatization. Along with this, the Finance Minister had also said that it will be sold to an insurance company.

The post Bank Privatization: Big news! All these banks will become private. Full list released by the government first appeared on Rightsofemployees.com.

The government has decided to privatize many banks and companies, on which work is going on fast. Presently government employees are opposing it.

All banks except SBI can be private

At the same time, two leading economists of the country say that the government should hand over all government banks except State Bank of India to private hands. Apart from this, NITI Aayog has told that 6 government banks of the country will not be privatised.

NITI Aayog had released the list

In the list issued by NITI Aayog, it has been told that the government will not privatize Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.

The merger of banks took place in August 2019.

Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.

The Finance Minister had announced that the Finance Minister had announced in last year’s budget that IDBI Bank would be privatised. The government has made a plan to sell its stake in this bank. The process has moved forward regarding this. Despite the continuous protest, the government has already cleared its stand regarding privatization. Along with this, the Finance Minister had also said that it will be sold to an insurance company.

The post Bank Privatization: Big news for Account holders! All these banks will become private. Full list released by the government first appeared on Rightsofemployees.com.

If you also have an account in a government bank, then you should know before that which bank is going to be privatised. Giving information today, Deepam Secretary has told that the process of privatization of IDBI Bank is progressing rapidly.

Rejected media reports

The Central Government said on Friday that the process of disinvestment of IDBI Bank is going on as per the prescribed strategic sale process. He also dismissed the media reports that it was being said that the disinvestment of IDBI could be postponed.

Deepam secretary tweeted

The Department of Investment and Public Asset Management (DIPAM) said that the stake sale in the bank has moved beyond the expression of interest (EoI) stage. Deepam Secretary Tuhin Kant Pandey has tweeted that after receiving various EOIs, the transaction is now progressing as per the prescribed procedure.

LIC has 61 percent stake

The government had received several initial rounds of bids in January for the strategic sale of about 61 per cent stake held by it and LIC in IDBI Bank.

What is the share of the government?

Bids were invited from potential buyers in October last for the sale of a total of 60.72 per cent stake, including 30.48 per cent government and LIC’s 30.24 per cent stake in IDBI Bank. At present, both the government and LIC together hold 94.72 per cent stake in this bank.

The post Bank Privatization: Big update Account these account Holders! Another government bank is going to be private first appeared on Rightsofemployees.com.

4 banks have merged

Let us tell you that in August 2019, 4 out of 10 banks were merged by the government, after which the number of public sector banks in the country has come down from 27 to 12. At present, there is no planning regarding the privatization of these banks. Giving opinion, the Finance Ministry has said that all these banks should be kept out of privatization.

These 6 banks will not be privatised

. In the list issued by NITI Aayog, it has been told that Punjab National Bank, Union Bank, Canara Bank, SBI, Bank of Baroda and Indian Bank are included. The government has told that these 6 banks will not be privatised. According to the information received from the government official, all those who were part of the government bank consolidation have been kept out of privatization.

Finance Minister Nirmala Sitharaman had announced in the budget

Giving information, Finance Minister Nirmala Sitharaman had said in her budget speech that a plan is being made to privatize 2 government banks and a general insurance company. At present, the government had set a disinvestment target of Rs 1.75 lakh crore for the financial year 2022.

The process of integration has not been completed

According to the information received from the consolidation plan made in the year 2019, the merger of many banks has been done by the government, but the process of their integration is still pending, which can be completed soon.

The post Bank Privatization: Big news! Which banks including SBI-PNB and BoB will be private? NITI Aayog released the list first appeared on Rightsofemployees.com.