IDBI Stake Sale Latest News – RBI suggests IDBI Bank to come out of PCA framework before proposed stake sale : Reserve bank of India (RBI) has suggested the government and Life Insurance Corporation (LIC) of India that IDBI Bank should allow to come out of the prompt corrective action (PCA) framework before they go ahead with the stake sale.
RBI’s view is that the government’s plan to exit IDBI Bank would send a wrong signal, portraying the lender as “weak” and the one which is in “more trouble”.
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An evaluation of the PCA framework is due by the RBI, and the bank is expected to come out of it. The government’s shareholding in the lender is 47.11 per cent, while LIC holds 51 per cent in it. Government want to sell their complete share in the bank.