IDBI Bank divestment scrapped? LIC, govt-owned bank clarifies after stock tanks

IDBI Bank has responded to media speculation regarding the government's proposed majority stake sale. The bank stated it cannot confirm or deny reports suggesting the sale might be scrapped due to low bids. IDBI Bank clarified that the strategic disinvestment process is confidential and managed by the government. The bank has not received any official communication about the sale's cancellation.