Kejri writes to Modi against privatisation of IDBI Bank

New Delhi: Opposing the central government’s move to privatise Industrial Development Bank of India (IDBI), Delhi Chief Minister Arvind Kejriwal on Saturday urged Prime Minister Narendra Modi to stop the process and allow the banks to recover outstanding from big defaulters.
In his letter to Modi, Kejriwal said: “The reason being described to privatise the IDBI is that the government aims to earn money by selling its shares. If the bank is being sold with this intension, then it will be very wrong.
“I request you to stop the privatisation of IDBI and allow the banks to recover outstanding loans from big industrialist defaulter. Strict action should be taken against people like Vijay Mallya.”
Kejriwal’s letter came after a delegation of IDBI officers met Kejriwal on Friday and expressed their opposition to the government’s move to dilute its stake in the bank to less than 50 per cent.
In the letter Kejriwal added that the IDBI was among the profit-making banks. (IANS)