IDBI sale: Centre defends bid process, Rahul opposes sale
The finance ministry says the reserve price was never changed; Rahul Gandhi says selling the profitable bank to Canada's Fairfax breaks a promise made to Parliament.
1 of 5
The finance ministry has said the reserve price for IDBI Bank was neither lowered nor raised during its strategic sale.
It said a second "best offer" round was set by a senior secretaries' panel using powers the Cabinet gave it in 2017.
Rahul Gandhi wrote to IDBI employees that the government and LIC will cut their stake from 95% to 34% by selling to Fairfax.