Govt to invite expressions of interest for IDBI Bank's privatisation by October 15

The Narendra Modi government will be inviting expressions of interest (EoI) for IDBI Bank's privatisation by October 15. Currently, the government holds 45.48 percent in the bank, and Life Insurance Corporation of India, which is currently the promoter of the bank, owns a 49.24 percent stake.

Also, the government would be in a position to make a presentation to the core group of secretaries as far as the monetization of New Delhi's iconic Hotel Ashok is concerned. Post that, work on the Cabinet note is likely to start. So, maybe by December 2022, the cabinet approval will be in for the monetisation of the hotel.

Further, 30 entities have shown interest in Hotel Ashok and that includes big players like ITC and Hyatt.