IDBI Bank buyers need MHA clearance in 1st stage of bidding

The central government has mandated that interested buyers of IDBI Bank will have to seek security clearance from the Ministry of Home Affairs (MHA) during the first stage of the bidding process. The government and LIC will together divest a 60.72% stake in the lender. Interested parties will have to certify that no regulatory authority's investigation is pending against them.