The government’s decision to mark time on IDBI Bank’s privatization is puzzling. Its rationale is clear and the stage for its sell-off was set years ago. Low bids should not get in the way of the process as revenue maximization was never the idea.
There are many reasons behind the process of what we in India like to call disinvestment, a euphemism coined as a political shield against critics. The money it raises is just one reason. It pales in… [+2903 chars]
