The Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla on Friday said that the appointment process for merchant bankers and legal advisors has been completed for major public financial institutions, including Life Insurance Corporation (LIC) and public sector banks (PSBs).
These appointments will be valid for a period of three years, with a provision for extension up to five years. The DIPAM Secretary also said that individual transactions under this arrangement can take place over the next three years.
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