LIC keen to keep part of its stake in IDBI Bank to reap benefit of bancassurance

With the acquisition of an additional 82,75,90,885 equity shares on January 21, 2019, IDBI Bank became a subsidiary of LIC.

PTI

November 27, 2023 / 18:34 IST

IDBI Bank

State-owned LIC, promoter of IDBI Bank, has said it plans to retain a part of its stake in the lender to harness the benefits of the bancassurance.

Along with the government, Life Insurance Corporation (LIC) will also divest its stake in IDBI Bank but may not exit completely, LIC Chairman Siddhartha Mohanty told.

(More details are awaited. Keep following moneycontrol for more.)

PTI

first published: Nov 27, 2023 06:30 pm

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