The government and the life insurance corporation of india (LIC) hold a 94.71 percent stake in the bank. Both want to sell a 60.72 percent stake.

The submission of preliminary bids for the privatization of idbi bank is likely to be extended till early January. Now the last date is 16 December. Transaction advisors have appealed for an extension of time.

The government and the life insurance corporation of india (LIC) hold a 94.71 percent stake in the bank. Both want to sell a 60.72 percent stake. Foreign investment bankers are not working due to year-end holidays, said an official. Given this, the time limit can be extended. On the other hand, the privatization of the Container Corporation of india may start in January. In november 2019, it was approved to sell a 30.8 percent stake. The government has set a target of Rs 65,000 crore for disinvestment in the current financial year. 28,383 crores have been received so far. agency

SIP: Record Rs 13,306 crore came

A historical record of monthly investment of Rs 13,306 crore has been made in the Systematic Investment Plan (SIP) of mutual funds in November. It was Rs 13,041 crore in October.

From May this year till now, every month more than Rs 12 thousand crore investment is coming through SIP. The total investment in the first 8 months of the current financial year has gone up to Rs 87,275 crore. The total in the last financial year was 1.24 lakh crore. Investment in equity funds fell 76% to Rs 2,258 crore in November. It was Rs 9,390 crore in October. Investments have come in equity funds for the 21st consecutive month. In the eight months from July 2020 to february 2021, investors had withdrawn Rs 46,791 crore. Rs 14,045 crore has come into the mutual fund industry in November. Apart from equity, Rs 3,668 crore has come in debt funds.

In november, 11.27 lakh SIP accounts were added to mutual funds. You can invest from Rs 500 through SIP. The asset under the management of a total of 43 fund companies has reached a record level of 40.37 lakh crore. 39.5 lakh crore in October. The total folio stood at 13.97 lakh crore. The retail folio stood at 11.17 lakh crore.

PNB's loan costlier by 0.35 percent

New Delhi. PNB has made loans costlier after RBI's repo rate hike. The home loan rate (RLLR) has increased by 0.35% to 8.75% from 8.40% earlier. Also includes 0.25% BSP. With this, now existing customers will get a loan at 9% interest per annum. The new rate is applicable from december 8. Bureau

ADB will give a $ 250 million loan to India

New Delhi. The Asian Development bank (ADB) said on friday that it has approved a policy-based loan of $ 250 million to support India's comprehensive reforms. It aims to modernize India's logistics infrastructure and reduce costs. agency

67 companies selected in PLI

New Delhi. The government has selected 67 companies for the Scheme of Linked Incentives (PLI) for the production of special steel. There is a possibility of investment of 42,500 crores through these. This is likely to increase production capacity by 26 million tonnes with 70,000 jobs. agency