INSUBCONTINENT EXCLUSIVE:
Corporation (LIC) to pick up to 51 per cent stake in the debt ridden IDBI Bank, sources said.The decision, they said, was taken at a the
Sources added that if deal goes through, IDBI Bank will get capital support of Rs 10,000 crore-Rs 13,000 crore
State-owned LIC has been looking to enter the banking space by acquiring majority stake in IDBI Bank as the deal is expected to provide
Official)"You will get to know whatever is the decision
You will get to know after the minutes of the Board meeting are approved
We will be posting it on our website," IRDAI Chairman Subhash Chandra Khuntia told reporters after the board meeting in Hyderabad.However,
according to sources, the regulator has permitted the LIC to pick up to 51 per cent stake in IDBI Bank, thereby relaxing existing rules for
cannot hold more than 15 per cent stake in a company
IDBI Bank is grappling with mounting toxic loans with gross non-performing assets rising to a staggering Rs 55,600 crore at the end of
latest March quarter.During the three months, the lender's net loss stood at Rs 5,663 crore.
