The insurance regulator will set the timeline for Life Insurance Corporation of India to bring down its stake in IDBI Bank Ltd. to below 15 percent after studying the insurer’s business plan for the troubled lender. "That (timeline) we will have to fix. That is yet to be fixed. The condition that has been put is eventually they will have to bring their stake down (below 15 percent),” Insurance Regulatory and Development Authority of India Chairman Subhash Khuntia told PTI. “How much time that will be, looking at their business plan and...we will decide."
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