The time has come to promote disinvestment of banks- SBI report

c Delhi Delhi. SBI in its research report on Monday said that the government should go ahead with the disinvestment of public sector banks (PSBs) as they are in good shape.The report also advocated consolidation of existing government-owned banks. “As the banks are in good shape, the government should take a stand on disinvestment of PSBs,” the report titled ‘Preface to Union Budget 2024-25’ said.Regarding the privatisation of IDBI Bank, it said the government and Life Insurance Corporation of India are selling about 61 per cent stake in the lender. “They invited bids from buyers in October 2022. In January 2023, the Department of Investment and Public Asset Management received several expressions of interest for IDBI Bank’s stake. We hope the government will clarify this in the Budget.”Currently, the government holds over 45 per cent stake in IDBI Bank, and LIC holds 49.24 per cent.