Although IDBI Bank is technically a private entity, its controlling stake is with LIC, which a 100 per cent government controlled entity.
According to Reliance Mutual Fund, which is managing the CPSE ETF, the fifth tranche would open for subscription on March 19, for anchor investors.
A part of SBI's digital banking platform, You Only Need One (YONO), the cardless cash withdrawal service will be available across 16,500 ATMs.
The purchase will happen through multi-security auction using the multiple price method.
There is a competition for deposits in the market. The private banks and new payments and small finance banks are offering higher savings rate.
The bank is looking to sell all of them on a 100% cash basis, but the actual realisation will, of course, depend on the reserve price and bids from the buyers
The panel is undertaking a comprehensive review of the sector to identify causes and propose long-term solutions for its development, the RBI said in a statement.
The Finance Ministry will soon come out with an advertisement to find a successor to head the Pension Fund Regulatory and Development Authority (PFRDA).
Makhija will replace Sanjiv Misra, whose term as the bank's non-executive (part-time) chairman expires on July 17.
The IDBI Bank now has Rakesh Sharma with three-year tenure to effect a turnaround post the entry of Life Insurance Corporation (LIC) as its new promoter.
The bank issued 6,25,52,188 shares of Rs 10 each to eligible employees, BoI said in a statement.
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