IDBI Bank Bidders Need To Seek MHA Security Clearance In First Stage Of Bidding Process

This meant that bidders who qualified in the first or the expression of interest round, were required to seek security clearance from the government while placing their financial bids.

Inviting expression of interest from bidders for buying the government and LIC’s 60.72% in IDBI Bank, the Department of Investment and Public Asset Management said interested parties (IPs) who clear the ‘Fit & Proper’ assessment by the RBI and the security clearance by the government/MHA shall be notified as the qualified interested parties.