The government has reached out to the Securities and Exchange Board of India (Sebi), seeking a two-year relaxation in the minimum public shareholding (MPS) norms for IDBI Bank once it is privatised, said people familiar with the development.

The India-Russia trade deal is turning out to be a tale of ‘who will bell the cat’. Banks want the regulator and the government to give a clear guidance that would shield them from any action by the US authorities.

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