IDBI Bank privatisation: Security clearances in place, RBI's nod expected soon

The Indian government and LIC are selling a nearly 61% stake in IDBI Bank, including a 30.48% stake of the Government of India and 30.24% of LIC. Potential investors have received security clearance from the Home Ministry and a nod from the Reserve Bank is expected soon. The RBI has been examining details submitted by potential investors for over 1.5 years, missing the deadline for privatisation.