Finance Minister Nirmala Sitharaman said that India needs large and world-class banks and that discussions are underway with the Reserve Bank of India (RBI).

While addressing the 12th SBI Banking and Economics Conclave 2025, Sitharaman said, “The government is looking at this, and work has already commenced. We are discussing with the RBI and with banks.”

Government, LIC move ahead with IDBI Bank privatisation plan

As part of the privatisation exercise, the government in January 2019 sold its controlling 51% stake in IDBI Bank to the Life Insurance Corporation of India (LIC). Subsequently, the government and LIC announced plans for the strategic sale of their remaining stake in IDBI Bank .

In October 2022, both shareholders invited Expressions of Interest (EoIs) from investors f

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