Mumbai/IBNS, July 2 -- The Centre has revived its long-pending plan to privatise IDBI Bank, inviting fresh financial bids from the existing shortlisted bidders in a renewed push to complete the strategic disinvestment during the current financial year, according to an NDTV Profit report.

The Centre, which holds a 45.48 percent stake in IDBI Bank, along with state-owned Life Insurance Corporation of India (LIC), which owns 49.24 percent, plans to jointly sell a 60.72 percent stake in the lender while transferring management control to the successful bidder.

The strategic sale process was first announced in October 2022, with several domestic and international investors expressing interest. However, the transaction has faced delays due to...