IDBI Bank likely to remain headless for the time being

 This move comes even as IDBI had shortlisted three names and send them to the Reserve Bank of India for finalisation.

 According to sources, the bank is likely to remain headless for now as IDBI is still contemplating moves on merging the bank with itself.

 The Industrial Development Bank of India (Transfer of Undertaking and Repeal) Bill is pending with the Parliament and may be cleared in the next session.

 Sources added that IDBI is still exploring the various possibilities for the final conversion path of the FI into a bank.

 It is also looking at a possibility of talking over a public sector bank. Ajay Bhimbhet, the acting CEO and the retail head of IDBI Bank, who has already put in his papers, will lay office on January 24.

 IDBI had more than a month ago sent three names