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Tag Archives: cabinet approval

LIC to acquire controlling stake of IDBI Bank as Cabinet gives nod

The Union Cabinet chaired by Prime Minister Narendra Modi has approved in reducing Government of India shareholding in IDBI Bank Limited to below 50% by dilution. It has also approved acquisition of controlling stake by Life Insurance Corporation of India (LIC) as promoter in the bank through preferential allotment / open offer of equity, and relinquishment of management control by ...

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