The Centre is confident about completing the privatisation of IDBI Bank in the next financial year, with financial bids expected to be invited by next month. The due diligence process by bidders is ongoing, with access to confidential data for assessing the bank’s financial position and valuation. The sale of a 61% stake, including Government and LIC shares, marks a significant milestone in the largest privatisation exercise since the disinvestment of Air India.
Full Article
Defence ministry inks Rs 2,906 crore contract with BEL
The defence ministry has signed a Rs 2,906 crore contract with BEL to procure the indigenously designed and developed Ashwini transportable radar for the Indian Air Force, enhancing operational readiness. The radar, capable of tracking various aerial targets, was created by DRDO's Electronics and Radar Development Establishment. This acquisition aligns with the government's focus on strengthening indigenous defence capabilities, as highlighted by Defence Secretary Rajesh Kumar Singh during the contract signing. Full Article
Read more