Security clearances for prospective IDBI bidders likely by October end

Security clearances for IDBI Bank’s prospective bidders could come through by the end of October, nearly 10 months after expressions of interest (EoIs) were first submitted for the bank by four parties, according to sources aware of the matter.

“Agencies have sought information to undertake criminal record checks for the prospective applicants. These take time as it involves coordination with multiple international jurisdictions. It is expected this month,” a person in the know said.