The government is said to have stiffened conditions for the appointment of merchant bankers and brokers for the sale of its stake in blue-chip companies held through the Specified Undertaking of Unit Trust of India (SUUTI). According to an updated request for proposal, merchant bankers selected will have to submit a list of institutional and other major investors - domestic and international - they will approach for proposed stake sale in Group A companies, including Axis Bank, Larsen & Toubro, and ITC. Earlier, the government had relaxed selection norms, noting that merchant bankers need not inform SUUTI about conflict-of-interest situations during selection stage.