IDBI Bank stake sale on track, final decision in 3-4 months: DIPAM Secretary Arunish Chawla. The government of India and the Life Insurance Corporation of India (LIC) plan to jointly offload a 61% stake in the lender. In January 2023, the Department of Investment and Public Asset Management (DIPAM) had issued an Expression of Interest (EoI) The names of the interested bidders were sent to the Reserve Bank of India for scrutiny. After obtaining RBI clearance, the shortlisted bidder were granted access to IDBI Bank’s data room. The process for 30 CPSEs has been completed, and the private sector is performing well in these companies. Ten PSUs have been closed and the process for the remaining companies is on track. The DIPam Secretary declined to comment or provide specific details on the progress of the disinvestment of Shipping Corporation ofIndia and BEML. He reaffirmed the government’s commitment to strategic disinvestments, stating, “We take a call on the strategic sale of PSUs at the right time.”