EAS Sarma urges President to review IDBI Bank disinvestment
In short
EAS Sarma has asked the President to step in and review the government’s plan to sell stake in IDBI Bank. He said the President holds CPSE shares on behalf of the people.
This matters because the sale could be reviewed if the plea gains traction. The source does not say whether the government will change its plan.
What the reporting says
EAS Sarma wrote to the President asking for intervention to review the government’s IDBI Bank disinvestment, saying the President holds CPSE equity on behalf of the people. The available reporting gives the substance of his plea but does not state the government’s response or any change to the sale process. The immediate consequence is renewed scrutiny of the planned divestment, while the outcome remains unknown.
Why it matters
EAS Sarma has sought the President’s intervention to review disinvestment in IDBI Bank, arguing that the President holds CPSE equity on behalf of the people. The reporting only provides the content of his letter and does not mention any official reply or policy decision. The issue is relevant to IDBI Bank’s divestment process and to wider CPSE privatization debate.