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via livemint.comPolitics

IDBI Bank sale: ex-civil servant EAS Sarma asks President to reconsider privatisation

FROM THE WIRE · LIVEMINT.COM

Former civil servant EAS Sarma urged the President to reconsider the proposed IDBI Bank sale to Fairfax and seek an independent inquiry. He argued the process lacks transparency, may undervalue public assets and impacts the lender’s development and welfare roles as a CPSE.

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralThe privatisation of a state-owned Indian bank matters for the banking sector, but the request comes from a single activist.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01EAS Sarma urged the President to reconsider the proposed sale to Fairfax.
  2. 02He argues the process lacks transparency and may undervalue public assets.
  3. 03He highlights the impact on the lender's development and welfare roles as a CPSE.

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