RBI re-categorizes IDBI Bank as a Private Sector Bank
LIC acquire 51% of the total paid-up equity share capital of the bank
Reserve Bank of India has categorized IDBI Bank as a 'Private Sector Bank' for regulatory purposes by with effect from 21 January 2019.The move is consequent upon Life Insurance Corporation of India acquiring 51% of the total paid-up equity share capital of the bank.
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First Published: Mar 14 2019 | 5:21 PM IST