Sitharaman says NDA revived IDBI Bank after UPA losses
In short
Nirmala Sitharaman said the NDA government helped revive IDBI Bank after losses tied to the UPA years. She made the remarks while answering Rahul Gandhi’s criticism of the bank’s privatisation.
The issue matters because IDBI Bank’s stake sale is still under review. The reporting does not say the final valuation, timing, or sale result.
What the reporting says
Nirmala Sitharaman said the NDA government revived IDBI Bank after losses linked to the UPA-era bad loan crisis, while responding to Rahul Gandhi’s opposition to the bank’s privatisation. The source says she pointed to the government’s recovery strategy and a reviewed valuation process for the stake sale. It also says she criticised politicising banking matters, but the reporting does not give the valuation details or sale outcome.
Why it matters
Nirmala Sitharaman said the NDA government revived IDBI Bank after losses linked to the UPA-era bad loan crisis, in comments responding to Rahul Gandhi’s opposition to privatisation. The reporting says she cited the bank’s recovery strategy and a reviewed valuation process for the stake sale. It also says she criticised politicising banking matters and stressed staff pressure under earlier administrations. The final sale outcome is not stated.