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  • News From Press IRDAI seeks proposal from LIC on IDBI Bank stake reduction

    IRDAI seeks proposal from LIC on IDBI Bank stake reduction

    Source: The Economic Times Mar 12, 2019


     Insurance regulator IRDAI Monday said it has sought proposal from Life Insurance Corporation of India (LIC) for paring its shareholding in the recently acquired controlling stake in IDBI BankNSE 3.46 %.

    Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.

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