The strategic sale of IDBI Bank will proceed smoothly after receiving approval from the Reserve Bank of India (RBI).

The finance ministry is determined to keep the sale on track, and prospective bidders will begin their due diligence in November.

The RBI has already completed its due diligence on the bidders, and a data room will be made available for them to access the bank's legal documents and request additional information.

This proactive approach aims to ensure that bidders are comfortable with the process and that there are no delays.

The government sought prior approval from the RBI for the strategic sale of IDBI Bank, which is not typically required in such sales, due to the unique nature of the bank being in the banking sector.