Finance Ministry says Centre allowed to sell stake in IDBI Bank, refers Delhi HC's 2018 judgement to defend dilution

The Finance Ministry in an official statement today, 17 October, clarified legislative developments concerning the Centre’s shareholding in IDBI Bank and defended its dilution plan for the lender.The PIB release reiterated that during the discussions of Union Budget, 2003 and the parliamentary debate on the IDBI (Repeal) Act, 2003, an amendment seeking to restrict the dilution of the government’s stake was moved but was ultimately rejected and did not form part of the enacted legislation.It added that the matter was…