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The proposal to seek fresh bids for IDBI Bank came after senior officials met to weigh options. ShowQuick Read Summary is AI-generated, newsroom-reviewed * The government plans to invite fresh bids for IDBI Bank's sale after low initial offers * Initial bids ranged between Rs 40,000-45,000 crore, below government expectations * Senior officials from DIPAM and DFS are reviewing options and next steps for bidding Did our AI summary help? Let us know. Switch To Beeps Mode The central gover ...Read More >
New Delhi: The government may ask for revised financial bids from two potential buyers of IDBI Bank as their original bid amounts were lower than the reserve price fixed for the strategic sale of the lender, sources said. "The IDBI Bank strategic sale is in the technical evaluation stage," a senior official told PTI. Also Read: Government likely to restart IDBI Bank privatisation process from scratch Amidst the West Asia crisis, the government is banking on disinvestment and asset monetisatio ...Read More >
New Delhi, Apr 7 (PTI) The government may ask for revised financial bids from two potential buyers of IDBI Bank as their original bid amounts were lower than the reserve price fixed for the strategic sale of the lender, sources said. "The IDBI Bank strategic sale is in the technical evaluation stage," a senior official told PTI. Amidst the West Asia crisis, the government is banking on disinvestment and asset monetisation to garner resources and create fiscal space for measures to shield the e ...Read More >
(RTTNews) - Indian shares traded lower in early trade on Monday due to lingering geopolitical tensions, rising crude oil prices and continued FII selling. Brent crude prices traded near $110 a barrel as U.S. President Donald Trump renewed his threat to attack Iran's bridges and power plants, warning he would bring "Hell" to Iran if they do not open the vital waterway by 8 p.m. Eastern Time on Tuesday. Trump will hold a news conference "with the Military" at the Oval Office at 1 p.m. later toda ...Read More >
New Delhi, Apr 3 (PTI) The Reserve Bank of India (RBI) has accorded approval to Dubai-based Emirates NBD Bank to acquire up to a 74 per cent stake in RBL Bank, paving the way for the bank to become a foreign lender. The approval from RBI came on April 1 with one year validity, RBL Bank said in a regulatory filing on Thursday. The approval follows Emirates NBD Bank, the second largest in UAE, expressing its interest in October 2025 to acquire a majority 60 per cent stake in RBL Bank for Rs 26,8 ...Read More >
MUMBAI: The US-based private equity firm Blackstone is set to acquire nearly 10% stake in Federal Bank for Rs 6,196.5 crore. The Kerala-based bank's board approved the proposal on Friday, it now requires shareholder and regulatory clearances, including from RBI and Competition Commission of India. This is the latest instance where an Indian lender has tapped private capital through a large-ticket deal this year. The deal activity has driven debate on whether RBI is taking a more liberal view of ...Read More >
Mumbai: RBL Bank expects its proposed share purchase deal with Emirates NBD to conclude within the next 5-8 months, with the management indicating the full $3 billion (₹26,850 crore) infusion - the biggest foreign direct investment in commercial banking - is likely this FY itself. The bank proposes to simultaneously seek regulatory and federal approvals while it seeks shareholder nod for the majority takeover. "It should be somewhere in the 5-8-month range," R Subramaniakumar, MD & CEO, RBL Ba ...Read More >
MUMBAI : Emirates NBD Bank's decision to buy a controlling stake in RBL Bank for $3 billion is likely to see more global banks looking at having an India play. With the banking regulator likely to allow such transactions going forward, a floodgate of more such transactions will open up, say bankers and industry experts. On Saturday, Emirates NBD said it has entered into an agreement to acquire a 60% stake in RBL Bank for ₹26,850 crore. The transaction, which is subject to shareholder and regula ...Read More >
MUMBAI: RBL Bank aims to become one of India's large banks within three to five years, leveraging a strategic tie-up with UAE based Emirates NBD, its managing director and chief executive R Subramaniakumar said.The foreign lender will invest around $3 billion through a preferential-issue to acquire a 60% stake, triggering an open-offer under regulatory guidelines.Subramaniakumar called the partnership a "once-in-a-generation opportunity" to scale RBL's balance-sheet, digital-capabilities, and co ...Read More >
Mumbai, Oct 19 (PTI) RBL Bank expects Emirates NBD Bank's USD 3 billion fund infusion, the largest FDI in the financial services sector, to close by June next year, once the regulatory and government approvals are secured, a top official said on Sunday. RBL Bank will merge with NBD's wholly-owned subsidiary operating in India and become a "listed foreign bank subsidiary" post-deal, the management said. "Our aspiration is to grow multi-fold, and the capital will help. We are now a mid-sized sma ...Read More >
New Delhi, Oct 19 (PTI) The Congress on Sunday said foreign firms gradually being allowed to acquire Indian banks was "imprudent" as it poses substantial risks and recalled that the Jan Sangh had criticised then prime minister Indira Gandhi for not nationalising foreign banks in July 1969. Congress general secretary in-charge communications Jairam Ramesh's assertion came after Emirates NBD Bank, the second largest in the UAE, expressed interest in acquiring a majority 60 per cent stake in RBL B ...Read More >
NEW DELHI, Aug 1 (Reuters) - India has completed due diligence for the stake sale of IDBI Bank (IDBI.NS), opens new tab and plans to invite financial bids between October and December, the country's divestment secretary said on Friday. A successful bidder will be announced by the end of March 2026, said Arunish Chawla, Department of Investment and Public Asset Management Secretary. Banking sector deals in India, especially those involving foreign entities, are rare. A full takeover of troubled ...Read More >
NEW DELHI: With due diligence for the sale of govt stake in IDBI Bank completed, Centre is all set to invite financial bids during the Dec quarter as it expects to shortlist the final bidder by the end of the financial year, a top official said Friday."The data room process is complete for all interested parties and formal consultations with all qualified interested parties have been completed. We are hoping to complete the selection of the winning bidder by the end of the financial year," said ...Read More >
Chennai, August 1: Actor, music director and producer G V Prakash Kumar, who has won the National Award for Best Music Direction (Songs) for the Tamil, Telugu bilingual film Vaathi, has called the honour "a blessing for the second time". Taking to his X timeline soon after the 71st National Awards were announced, G V Prakash expressed his gratitude to the jury and the selection committee of the National Awards and the entire team of Vaathi. G V Prakash wrote, "A blessing for the second time. I' ...Read More >
New Delhi: The government is preparing to invite financial bids in the third quarter (October-December) of FY26 for a strategic stake sale of IDBI Bank, as potential buyers have completed due diligence, Department of Investment and Public Asset Management (DIPAM) secretary Arunish Chawla said on Friday. "All data room protocols have been finalized for interested bidders," Chawla told reporters, indicating that the divestment process is now ready to move into its final stages. "We hope to invit ...Read More >
NEW DELHI, Aug 1 (Reuters) - India has completed due diligence for the stake sale of IDBI Bank (IDBI.NS), opens new tab and plans to invite financial bids between October and December, the country's divestment secretary said on Friday. A successful bidder will be announced by the end of March 2026, said Arunish Chawla, Department of Investment and Public Asset Management Secretary. Banking sector deals in India, especially those involving foreign entities, are rare. A full takeover of troubled ...Read More >
Stocktwits - Indian markets opened firm on Wednesday, tracking mixed global cues, as optimism builds around a potential U.S.-India trade deal ahead of the critical July 9 deadline. The retail sentiment on Stocktwits for Nifty remained 'bullish'. Sectorally, it's a mixed bag with technology and metals leading the gains, while PSU banks and media stocks witnessed some selling pressure. IndusInd Bank (NSE:INBK) is the top Nifty loser, falling 3% as Goldman Sachs (NYSE:GS) downgraded it to 'Sell' ...Read More >
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