Insurance Regulator Permits LIC To Pick Up To 51% Stake In IDBI Bank: Report

Insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) on Friday permitted Life Insurance Corporation (LIC) to pick up to 51 per cent stake in the debt ridden IDBI Bank, sources said. The decision, they said, was taken at a the meeting of the Board of Directors of IRDAI at Hyderabad on Friday afternoon.

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