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News From Press LIC-IDBI deal gets govt approval

LIC-IDBI deal gets govt approval

Source : HinduBusiness Line Aug 9, 2018

IDBI Bank, on Wednesday, said the government has conveyed its no objection to reduction in its shareholding in the bank below 50 per cent as well as relinquishment of management control, paving the way for acquisition of a controlling stake in the bank by the Life Insurance Corporation of India (LIC) as promoter.

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