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In Trump's crypto 'scrip', family always wins

It was January 2025, crypto fever was raging, and Donald Trump was preparing to return to the White House. So when Fatime Elrgdawy's friend told her about an online message from the United States president-elect hyping the launch of his own crypto coin-"GET YOUR $TRUMP NOW"-she thought: "Oh my God, this is brilliant."The 29-year-old software project engineer in California put $2,000 of her savings into the $TRUMP meme coin. All that remained, she thought, was to sit back and wait for the price to climb.Instead, the price plummeted. At the end of May, her $TRUMP holding was worth less than $120. Meanwhile, the Trump family pocketed hundreds of millions of dollars from the token sales after putting little to none of their own money into the project.Also read | Trump just got caught in a perfect storm. Can he survive it?Four bad bets for invetorsThe $TRUMP meme coin is one of four Trump family crypto projects that have turned into a financial jackpot for the Trumps and a very bad bet for buyers like Elrgdawy. Each of these ventures has followed the same playbook. The Trumps risked little up front. Trump family members-notably, the president's oldest sons, Eric Trump and Donald Trump Jr-hyped the venture. They raked in money as investors piled in. And those buyers lost big when, for various reasons, the prices of their Trump-related crypto assets later tanked.A Reuters examination shows that Trump's family has used this template to generate at least $2.3 billion in profit from investors since he retook the presidency. On the other side of that cash bonanza for America's first family: over a million investors whose net losses totaled $2.3 billion at the end of April, as per a Reuters analysis.The Reuters analysis was based on a review of blockchain records, corporate filings, online disclosures by Trump companies, and public remarks by the Trumps and their projects' executives, as well as interviews with executives. The findings were reviewed by over a dozen accounting and crypto experts, all of whom found Reuters' estimates and analysis to be reasonable.The four crypto projects include World Liberty Financial, the Trumps' flagship crypto venture. It has brought the family over $1.4 billion from sales of its governance tokens. The tokens, which give holders a vote on some governance matters, have crashed in value.Also read | India's first class action case goes to arbitrationMeme coinThe Trump brothers have also heralded two publicly listed firms, American Bitcoin and AI Financial Corp, known as ALT5 Sigma until April, as convenient ways to gain exposure to crypto tokens through their shares. The companies' stock prices have collapsed. And there's the $TRUMP token, its poor performance typical of meme coins, whose value reflects the popularity of internet trends or celebrities linked to them.White House spokesperson Anna Kelly, in a statement, replied to Reuters' findings: "All actions by President Trump and his administration are taken in the best interest of the American people." Eric Trump and Donald Trump Jr did not respond to requests for comment.All but three of the 27 individual investors interviewed for this article said they knew of Donald Trump's history of bankruptcies, unpaid contractors and failed ventures. Still, most said they believed that his position at the apex of American political power ensured lucrative returns on their investments.

Sterlite Tech shares slide 5% after rallying 56% in one month. Here's why

Shares of Sterlite Technologies dropped 5% to hit the lower circuit on Monday, after a massive 56% surge in one month and a whopping 474% rally so far in 2026, as a pause in the global AI optimism dampened sentiment.Shares of the company remained locked in the lower circuit at Rs 588.30 apiece on NSE in the morning trading hours of Monday.AI rally slams the brakesSouth Korea’s Kospi plunged 9% on Monday morning, leading to a 20-minute trading halt, as the massive selloff in tech stocks raged on. The index is now down about 14% from the record high it touched last week. The sharp downturn came after heavyweights and semiconductor stocks tumbled, including Samsung shares which crashed over 6%.The sharp plunge in Kospi reflects the sharp pause in the AI rally, as too much of the benchmark index’s earlier momentum had become tied to the performance of a small group of AI-linked stocks. Samsung Electronics and SK Hynix together account for nearly half of the KOSPI's weighting and have contributed roughly two-thirds of the benchmark's gains this year.Also read: Kospi crashes 9%, trading halted for 20 minutes, as chip rout deepens; Samsung, SK Hynix worst hitSterlite Technologies shares had emerged as one of the biggest multibaggers of 2026, riding on explosive demand for AI-linked data centre infrastructure. Sterlite, the optical-fiber maker owned by the Vedanta Group, was seen as the “poster child” for the AI boom. This came amid expectations that the world’s AI expansion needs massive amounts of high-speed connectivity infrastructure, and optical fibre is becoming the backbone of that ecosystem.The company late in May announced that its subsidiary has secured a multi-year supply agreement valued at $1.11 billion from a global hyperscaler for AI-ready data centre infrastructure projects in the US. Hong Kong-based CLSA had said that this significantly strengthens Sterlite’s positioning in AI data centres while improving medium-term growth visibility. It expected the order to reinforce Sterlite’s competitiveness in global markets, while maintaining an “Outperform” rating on the stock.However, the sharp crash in tech stocks led to rising worries that the AI rally was fizzling out, which may have led to the downtrend in Sterlite Tech shares today. Also read: Hidden AI WinnersSterlite Tech share priceSterlite Tech shares have gained 5% in one week and 56% in one month. The stock delivered a whopping 676% return over one year, 282% over three years and 119% in five years.The company currently has a market capitalisation of nearly Rs 28,719 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

‘Front half of the car was under a truck’: Clarke reveals terrifying crash after IPL final

Former Australia captain Michael Clarke was involved in a serious road accident in India shortly after the IPL 2026 final. His vehicle crashed into a semi-trailer, leaving him with bruises and the car written off. Clarke expressed gratitude for the support from locals and the BCCI following the frightening incident.

Vodafone Idea shares rally 7% to fresh 52-week high despite market crash. What's behind the surge?

The shares of Vodafone Idea sharply surged nearly 7% to a new 52-week high of Rs 15.09 apiece on the NSE on Wednesday, even as the Sensex and Nifty crashed, as multiple tailwinds boosted investor sentiment for the telecom major.The stock has rallied 46% in one month and a whopping 121% in one year. The company currently has a market capitalisation of more than Rs 1.62 lakh crore.ICRA upgrades Vodafone Idea’s rating, revises outlookRatings agency ICRA upgraded Vodafone Idea’s rating to A- from its earlier BBB rating and revised its outlook on the company’s long-term fund-based loans worth Rs 727 crore to ‘Stable’ from ‘Positive’. ICRA said that the rating upgrade was driven by a change in rating approach for Vodafone Idea to factor in support from promoter Aditya Birla Group, which was further strengthened with the re‑appointment of Kumar Mangalam Birla as the Chairman of the board and with the proposed equity infusion of approximately Rs 4,730 crore through a preferential allotment of warrants to a promoter group entity in May 2026. “These developments reflect strong confidence in Vi’s potential and long-term growth trajectory. The Aditya Birla Group has expressed its continued support to Vodafone Idea to ensure timely debt servicing and to ensure continuity of operations and improvement in its market position. The Aditya Birla Group has been consistent in providing operational and financial support to Vi and will continue to do so going forward. Further, the Group’s brand equity and market position provided Vi with assistance in Government engagement and higher financial flexibility,” it added.ICRA also highlighted the revision of Vodafone Idea’s adjusted gross revenue (AGR) dues. In May, the Department of Telecommunications (DoT) cut Vodafone Idea's AGR dues by 27% to Rs 64,046 crore as of December 31. This revision significantly alleviates the company’s liability burden and enhances cash flow visibility, the ratings agency said, adding that these will provide a push to the telco’s capex plans.Citi removes ‘High Risk’ rating on Vodafone Idea sharesCiti removed its 'High Risk' rating on the stock and raised its target price to Rs 17, implying an upside potential of more than 20% from the previous closing price. In its latest note, Citi Research changed its rating on Vodafone Idea shares to ‘Buy’ from ‘Buy-High Risk’, citing several tailwinds, including the government’s recent reassessment of AGR dues, rating upgrades, equity infusion by the Aditya Birla Group, and other factors into consideration.The brokerage, however, flagged key risks to its bullish view, including delays in bank funding, intensifying competition that could limit future tariff hikes, continued subscriber churn, and slower-than-expected growth in 4G and 5G users.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

IT rally rages on! Infosys, TCS, other stocks jump up to 4% despite overall market weakness

The shares of Indian IT companies including Infosys, TCS and others continued to record sharp gains on Tuesday, pushing the Nifty IT over 3% higher even as the broader Nifty index slipped into the deep red.The Nifty IT index extended gains for the third consecutive session, jumping around 7% during the period to hit a high of 30,785 on Tuesday. Nifty crashed 3% during the same time to trade below 23,250.Infosys shares gained more than 4% to trade at Rs 1,257.90 apiece in the morning trading hours of Tuesday. The heavyweight IT stock has now gained nearly 9% in just three sessions. The shares of Tata Consultancy Services (TCS) meanwhile jumped around 3.5%.Mphasis and LTI Mindtree shares jumped nearly 3% each, while HCL Technologies, Coforge, Tech Mahindra and Persistent Systems shares jumped around 2% each. Wipro shares were trading in the green with marginal gains.What’s driving the rally in IT stocks?The sharp surge in IT stocks comes after a significant decline earlier this year, following the launch of plug-ins for AI startup Anthropic's Claude Cowork agent, which could automate tasks across legal, sales, marketing, and data analysis. "We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks," Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies.While analysts continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying. Nuvama, in its note, had highlighted that the IT sector is setting up for a powerful comeback, not a collapse after the brutal AI-driven selloff.“We see no existential threat from Gen-AI,” the brokerage writes, arguing that enterprises will still need a “system integrator” to customise plug-and-play AI and software tools for their highly complex, brownfield technology stacks and to take ownership when “the system fails at 2 am.”The latest round of buying also comes ahead of the Federal Reserve’s policy meeting next month, which would be the first under Chair Kevin Warsh. US President Donald Trump had selected Warsh partly on expectations that he would support lower borrowing costs to stimulate economic growth. However, rising inflation raised questions over the possibility of lowering rates."Indian IT firms are following suit of American companies like Anthropic and OpenAI by taking up contracts and tie-ups which are perceived as promising by investors," said Gaurav Sharma, head of Research, Globe Capital.Arbind Maheswari from BofA Securities told ET Now that the market globally is attracting flow towards only one story, at the front and centre of it is tech and AI. It is hard to pull away from that fact with a near-term vision. “There are people who believe that the whole business model of Indian IT services is put to question by the AI trade. The other side is that IT services companies will evolve and adapt and they have enough cash flow, they have the resilience, and they have shown this in the past where there were threats that seemed existential for the IT services space. This time obviously it is much bigger and it could last longer but I am sure there is enough that these companies have in them both in terms of depth of management and business models that they can evolve to adapt to the new AI world,” he added.Wipro to acquire additional stake in Aggne Global for $28.5 millionWipro announced that it will acquire an additional 20% stake in US-based insurtech company Aggne Global Inc through an all-cash transaction worth $28.5 million. The company said the transaction is expected to be completed by June 5.Earlier this year, the company acquired Mindsprint for $375 million as part of a broader $1 billion transaction with its parent, Olam Group. It also purchased select customer contracts from US-based Alpha Net Consulting LLC and its subsidiaries for $71 million.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Inox Wind shares crash 8% after Q4 profit drops 45% YoY

Shares of Inox Wind tumbled 8% on Monday after the company reported a consolidated net profit of Rs 105.68 crore for the January-March quarter of FY26, down 45% year-on-year (YoY) from Rs 190 crore in the corresponding quarter last year.Shares of the company crashed to Rs 85.61 apiece on NSE, the lowest level since April 10 this year. The firm’s revenue from operations, meanwhile, fell over 2% YoY to Rs 1,244 crore during the fourth quarter of the financial year, which ended on March 31, 2026, from Rs 1,275 crore in the year-ago period. Total income declined marginally to Rs 1,306 crore, while total expenses increased more than 5% YoY to Rs 1,162 crore during the quarter under review.Inox Wind’s EBITDA declined 6% YoY to Rs 333 crore. For the entire financial year 2026, the company reported a 3% rise in bottom line to Rs 449 crore.JM Financial on Inox WindJM Financial highlighted that the company’s Q4 results were an “all-around” miss on estimates. Its revenue was nearly 25% lower than the brokerage’s estimates. “Since management has not shared details, we estimate execution of 85 MW versus 252 MW QoQ/236 MW YoY. Adjusted PAT moderated to Rs 1.1 billion (-44% YoY, -55% JMFe, -52% consensus). The company has an order book of 3.1GW including 1.5 GW from CESC and 750 MW from group companies. Given the challenges in connectivity, RoW and PPAs, we expect IWL to execute 900 MW/1,100 MW during FY27/28,” it said.The domestic brokerage maintained its ‘Add’ rating on the shares of Inox Wind, but reduced its target price to Rs 101 apiece. This implies an upside potential of nearly 9% from the stock’s previous closing price of Rs 93.02 apiece.Motilal Oswal on Inox WindMotilal Oswal also highlighted that Inox Wind reported a weak set of numbers for Q4. However, it highlighted that the visibility of recurring captive order inflows from Inox Clean, which plans to add 3GW of renewable capacity annually with 20-30% expected to be wind-based, management’s strategy to gradually increase pure equipment supply contracts’ share in the order book from 27% currently to 75% over time, which should improve working capital efficiency and margins, and management’s FY27 revenue growth guidance of 75% YoY with EBITDA margins of 20-22% were the key things it liked about the results.The domestic brokerage lowered its FY27 and FY28 EBITDA estimates by 7% and 6% respectively. It maintained its ‘Buy’ rating on the shares of Inox Wind, with a target price of Rs 110 per share, implying an upside potential of more than 18% from the stock’s previous closing price.Inox Wind share priceInox Wind shares have fallen more than 4% in one week and around 8% in one month to close at Rs 93.02 apiece on Friday. The stock is down more than 24% so far in 2026 and nearly 52% in one year.In the longer term, the shares of the company have delivered returns of more than 169% over three years and 386% over five years. The company currently has a market capitalisation of nearly Rs 9,307 crore. The stock’s P/E ratio stands at nearly 36.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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F&O Talk: Nifty may stay range-bound; Sudeep Shah sees opportunities in banks, IT, picks 7 stocks

The Indian stock market witnessed a sharp selloff on Friday afternoon, with the Sensex and Nifty falling over 1% as passive fund flows linked to the MSCI index reshuffle weighed on sentiment.Sensex dropped over 1,092 points to 74,776 while Nifty 50 crashed nearly 359 points to 23,547. This came as India VIX, which measures volatility in markets, jumped around 8% to 16.18. The sharp losses wiped off nearly Rs 6 lakh crore from the total market capitalisation of all companies listed on BSE, pulling it down to Rs 465 lakh crore.Analyst Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities, interacted with ETMarkets regarding the outlook for the Nifty and Bank Nifty, as well as an index strategy for the upcoming week. The following are the edited excerpts from his chat:Nifty rollover for May expiry came in below both the three-month and six-month averages. Does this suggest traders are turning cautious near higher levels, or is it simply profit-booking after the recent recovery?In the month of May, the benchmark index Nifty traded within a narrow range of 1219 points, marking its smallest monthly range since December 2025. The rollover in the May series also came below the prior month and 3-month average. Notably, a majority of the trading sessions during the month witnessed either an upside or downside gap at the opening, followed by range-bound price action throughout the day. As a result, opportunities for intraday and short-term traders remained limited despite the frequent gap openings. But what made this phase even more unusual was the message hidden within the broader monthly price structure.On the monthly chart, Nifty has formed a bearish candle with shadows on either side, reflecting indecisiveness among market participants amid ongoing geopolitical uncertainties. Zooming into the final week of May, the index continued to trade within a narrow range for most of the week before witnessing a sharp decline during the final hour of Friday's trading session, which tilted the balance in favour of the bears. While the market remained range-bound for most of the week, the late sell-off has raised an important question—was this merely profit booking or the beginning of a larger directional move?From a technical standpoint, Nifty continues to trade below all its key moving averages. More importantly, these moving averages have flattened out, indicating the absence of a strong trend. The daily RSI remains in a sideways zone as per the RSI Range Shift framework, while the daily Stochastic oscillator is also moving within a narrow band. Adding to this, the trend strength indicator, Daily ADX, is placed at near 15 level and continues to decline, suggesting a lack of directional momentum in the index. While these indicators point towards a lack of trend, Friday's late sell-off has injected fresh uncertainty into the market setup.Talking about crucial levels, on the upside, the 20-day EMA zone of 23,750-23,800 is likely to act as an immediate hurdle for the index. On the downside, the zone of 23,300-23,250 remains a crucial support area. A breach below 23,250 could intensify selling pressure and open the doors for a decline towards the psychologically important 23,000 mark. With the index approaching key support levels, the market's next move could set the tone for the coming weeks.Bank Nifty rollover saw a sharper decline and futures data indicates short build-up despite price weakness. Are banking stocks likely to remain drags on the market in the June series?In the month of May, the banking benchmark index Bank Nifty traded within a narrow range of 3,550 points, marking its tightest monthly range since January 2026. On the monthly timeframe, it has formed a High Wave candle, reflecting market indecisiveness.During the past week, the index witnessed a strong upmove in the first half; however, it failed to sustain above the 55,500 level and subsequently underwent a sharp correction. This led to the formation of a bearish candle with a long upper shadow, indicating selling pressure at higher levels.At present, the index is trading below its key moving averages, which are trending downward, suggesting a weak bias. The daily RSI remains in a sideways zone as per the RSI range shift rules, indicating lack of clear momentum.Going ahead, the 53,500–53,400 zone is expected to act as an important support for the index. A breach below 53,400 could trigger further downside, with the next key support placed around 52,700. On the upside, the 50-day EMA zone of 55,300–55,200 is likely to act as a crucial hurdle.FIIs reduced nearly 9,800 index shorts while also adding fresh longs. Do you see this as the beginning of a more constructive stance from foreign investors, or is positioning still defensive overall?There were clear signs of short covering in Index futures between 21st May and 27th May, with FII net Index futures shorts reducing sharply from 2,31,190 contracts to 1,63,012 contracts. This also led to the long-short ratio improving from 11.80% to 16.14%, indicating a relatively constructive shift in positioning. On Friday, massive short positions were built up leading to net index futures short contracts once again rising to 2,01,309 and the long short ratio dipping to 11.98%. Similar phases of short covering in the past were quickly followed by aggressive selling, causing bullish expectations to fade rapidly. This pattern has persisted for quite some time and is likely to continue until there is greater clarity on the US-Iran deal, a meaningful fall in the Dollar Index (DXY), stability in crude oil prices, and depreciation in the dollar against the rupee. Until these external factors stabilize, FII sentiment is likely to remain cautious rather than decisively bullish.What are key levels to watch out for in June series? What triggers could push Nifty decisively beyond in either direction?Talking about crucial levels, on the upside, the 20-day EMA zone of 23,750-23,800 is likely to act as an immediate hurdle for the index. On the downside, the zone of 23,300-23,250 remains a crucial support area. A breach below 23,250 could intensify selling pressure and open the doors for a decline towards the psychologically important 23,000 mark. With the index approaching key support levels, the market's next move could set the tone for the coming weeks.IT continues to trade near 52-week lows with elevated open interest and negative carry. Is the sector still witnessing aggressive short positions, and what would it take for sentiment to improve meaningfully?The Nifty IT Index has rebounded nearly 8% from its 14th May low of 27,078. However, over the last seven sessions, the Index has remained range-bound between 29,747 and 28,678, indicating a lack of strong directional momentum. The RSI remains flat, while a subdued ADX reflects low volatility and absence of trend strength. Additionally, the MACD continues to trade below both the zero line and signal line, highlighting weak underlying momentum. On the Relative Rotation Graph (RRG), the Index has shifted from the lagging to the improving quadrant, suggesting early signs of momentum recovery, though relative strength remains limited. The Index continues to trade below its 50, 100, and 200-day EMAs, keeping the near-term trend weak. The 29,900–30,000 zone remains a crucial resistance area, and a decisive breakout above this level could trigger a stronger pullback rally in the IT pack.Given that the broader market structure remains range-bound with elevated volatility, should traders focus more on stock-specific opportunities rather than aggressive index directional bets in the June series?With the broader market remaining range-bound amid elevated volatility, traders are likely to find better opportunities in stock-specific setups rather than aggressive directional bets on the Index in the June series. The rising ratio line in the Midcap and Smallcap indices relative to Nifty highlights continued outperformance in the broader market space. Despite the strong bearish candle on 29th May, the overall market structure remains bullish, with no concrete signs of a major reversal yet. Currently, strength is visible in sectors such as private banks, PSU banks, financial services, and select midcap IT names. Meanwhile, the Index continues to react sharply to geopolitical developments, leading to frequent gap-ups and gap-downs that reduce trading clarity. In such an environment, strong price-action structures backed by robust technicals in trending sectors are likely to outperform across market conditions.What stocks are you looking out for?For the short term, Tamilnad Mercantile Bank, Nuvama Wealth Management, RR Kabel, Syrma SGS Technology, Krishna Institute of Medical Sciences (KIMS), and Minda Corporation are looking attractive based on their current market setup.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Major shock! After Sinner, Djokovic knocked out of French Open 2026

French Open 2026 witnessed two huge upsets as Novak Djokovic and Jannik Sinner crashed out of the tournament. Teenager Joao Fonseca stunned Djokovic in a five-set thriller after coming back from two sets down. Earlier, World No. 1 Sinner collapsed physically in extreme Paris heat and lost to Juan Manuel Cerundolo, ending his 30-match winning streak and opening up the men’s draw.

‘Serious escalation’: Nato fumes after Russian drone crashes in Romania

A Russian drone crashed into an apartment building in eastern Romania, injuring two people and sparking outrage. President Nicusor Dan called it the "worst incident to hit the national territory" since the war began. NATO and EU leaders condemned the "serious and irresponsible escalation," with Romania requesting faster anti-drone aid. This occurred amidst renewed Russian attacks on Ukraine.

IDBI Bank sale back on table: Centre

New Delhi: The Centre is exploring ways to revive the stalled privatisation of IDBI Bank, people familiar with the matter told ET. The choices include examining whether earlier rejected bids, from Prem Watsa-led Fairfax Financial Holdings and Emirates NBD, for their failure to hurdle the reserve price threshold could still be considered, they said.The bids remain ‘alive’ and the government is examining legal provisions under the tendering framework that allows for bids to be accepted even if offers are below the reserve price, said the people cited above.The reserve price remains undisclosed. A call is expected to be taken soon as the government looks at ways to bolster its non-tax revenues. A senior government official said that all options are on the table, as the process for selling its stake in IDBI Bank was never "scrapped" even after the financial bids were found to be below the reserve price. "Multiple options are being examined including how to complete the transaction in the ongoing round,” an official said. The government fixed the reserve price after bids were submitted by interested parties but before they were opened.Also Read: Listed banks earned a record profit of ₹4 lakh crore in FY26The reserve price remains confidential and has not been disclosed to bidders. The Centre may also seek guidance from, the Securities and Exchange Board of India, given the valuation concerns considering a very limited free public float, currently at 5.29%. 131377481Low Public Float"All these aspects are being examined," said another official. In February 2026, Arunish Chawla, secretary, Department of Investment and Public Affairs, or DIPAM, had said in a post on X that financial bids had been received for the strategic disinvestment of the IDBI Bank."They will be evaluated as per the prescribed procedure," he stated. But the stake sale process came to a halt in March after the bids received were found to be below the reserve price. IDBI's share price then crashed from a 52- week high of Rs 118.45 to a 52-week low on March 30 at Rs 61.05 at the Bombay Stock Exchange, or BSE.Also Read: Mid-tier entities in Indian BFSI under-invested in security, most exposed to cyberattacksThe stock gained some momentum in April and is currently trading at Rs 73.49 on the BSE. The government aims to sell its 30.48% stake and Life Insurance Corporation of India's 30.24% stake in the bank. At the current market price, it will be able to raise around Rs 24,000 crore. The government has budgeted Rs 80,000 crore from asset monetisation in this fiscal.As per the process, the successful bidder will have to go through a final assessment by the Reserve Bank of India (RBI) to ensure that it meets the regulator’s ‘fit & proper’ standards. In addition, approvals will be needed from statutory and regulatory authorities, including the Competition Commission of India. The successful bidder will also have to comply with the requirement to make an open offer to minority shareholders of IDBI Bank.

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