 "news digest")
LIC set to finalise turnaround plan for IDBI Bank
Life Insurance Corporation (LIC) is set to finalise its turnaround strategy for the beleaguered state-run IDBI Bank. The board of directors of LIC, which is meeting on Monday, is likely to give its nod to the proposal to increase the insurer’s stake to 51 per cent in the bank. Currently, the government owns 80.96 per cent of IDBI Bank, while LIC holds 10.82 per cent. Read more
Trade deficit widens to five-yr high
A sharp rise in crude oil bill led to India's trade deficit widening to a 61-month high in June,
