A string of international and domestic management consultants have evinced interest in helping the Industrial Development Bank of India (IDBI) transform into a universal bank.
Boston Consulting Group, McKinsey, SBI Capital Markets, PricewaterhouseCoopers and Deloitte Touche are among those which have applied for the expression of interest floated by IDBI around a month back. The successful bidder will help IDBI in evolving and implementing a strategy for universal banking, positioning, branding and risk management.
The financial institution is likely to shortlist a consultant in three weeks after going through the presentations made by them.
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The Industrial Development Bank (Transfer of Undertaking and Repeal) Bill 2002 has been referred to the standing committee on finance and is expected to be cleared in the forthcoming session of Parliament.
The Bill seeks to repeal the IDBI Act, 1964, and transfer and vest the institution