Update on Bank Selling: Find out which bank is getting ready to be sold! In the Lok Sabha, the administration responded

 Update on Bank Selling: Find out which bank is getting ready to be sold! In the Lok Sabha, the administration responded

Bank Selling Update: The State Minister for Finance provided details on disinvestment in answer to a query in the Lok Sabha.

According to the State Minister for Finance, disinvestment has raised Rs 10,050 crore as of December 13. Simultaneously, the government said that the IDBI Bank investment process was ongoing. The national government is getting ready to sell 30.48% of its 45.48% interest in IDBI Bank. In addition, LIC has a 49.24% share in the bank. LIC is developing a strategy to sell around thirty-two percent of this bank. The bank has performed well throughout the July–September quarter. The bank's profitability and net interest income increased significantly throughout this time. Compared to the same quarter last year, when profit was Rs 828.1 crore, it has now climbed to Rs 1323.3 crore.

Find out which bank is getting ready to sell!

The Disinvestment Department has received the proposal for the strategic disinvestment of twenty-three government firms. Out of 23, five businesses are being considered for closure. The firms that are undergoing the disinvestment process include IDBI Bank, SCI, and BEML. The nodal ministry is in charge of disinvesting in various ITDC components.

Significant news impacting banks as well:The parliamentary committee hearing on bank merger has a revised agenda, sources informed CNBC Awaaz. We will now solely talk about how banks operate, not mergers. In fact, there has been word that public sector bank merger talks have resumed. We would like to inform you that Union Bank and UCO Bank merger talks are possible. A merger between Bank of India and Bank of Maharashtra may be discussed.