LIC seeks to own 51% stake in IDBI Bank

5 days ago
NEW DELHI: IDBI Bank has received a letter from insurance behemoth Life Insurance Corporation of India (LIC) for acquiring 51 per cent controlling stake in the bank as a majority promoter. The bank will now seek government approval for the deal. In a IDBI Bank stock climbs 6% after reports of LI ... ...

LIC board gives approval to acquire 51% stake in debtridden IDBI Bank

6 days ago
Life Insurance Corporation of India (LIC) came a step closer in acquiring a majority stake in the governmentowned IDBI Bank as its board gave an approval to the deal on Monday. LIC's shareholding in IDBI Bank will stand at 51 per cent after it takes a ... ...

LIC gets board's nod to buy majority stake in IDBI Bank

6 days ago
The LIC board today gave approval to the insurance behemoth to acquire IDBI Bank by raising stake to 51 per cent via preferential shares, Economic Affairs Secretary S C Garg said today. The debt laden bank will issue preferential shares to stateowned ... ...

Gonorrheacuring vaccine on its way!

2 weeks ago
Read more about Gonorrheacuring vaccine on its way! on Business Standard. The day is not far when people suffering from Gonorrhea will have vaccines to treat them.Gonorrhoea, a sexually transmitted disease that results in 78 million new cases worldwide each year, is highly damaging if untreated or improperly treated.It ... ...

Who needs a bad bank? We have LIC

3 weeks ago
Just weeks ago, the government had floated the idea of a bad bank for the second time and now it has realized its folly by doing so. After all, why risk public outrage by warehousing the toxic assets on a separate balance sheet funded by taxpayers IDBI Bank rallies 6% on Irdai green light ... ...

LICIDBI deal: Premium money of citizens can't be used to fill fiscal gaps

3 weeks ago
A dangerous narrative being peddled by the Centre is that LIC has so much cash – it gets about Rs 2 trillion premium money from customers every year – that it is a mere drop in the ocean if it buys a 51 per cent stake (about Rs 130 billion) in IDBI Bank. ... ...

ICICI Bank chief Kochhar to be on leave pending enquiry; Bakhshi appointed COO

1 month ago
ICICI Bank today announced that its CEO Chanda Kochhar has decided to go on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon and named Sandeep Bakhshi as the chief  ... ...

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