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Letter to BS: The name of IDBI Bank should be changed to LIC Bank

Life Insurance Corporation of India (LIC) is shortly going to hold 51 per cent stake in IDBI Bank

John Keats has said that “Beauty is truth, truth beauty, that is all/Ye know on earth, and all ye need to know”. The beauty of life is not frozen and eternal, but subject to time and change. Life Insurance Corporation of India (LIC) is shortly going to hold 51 per cent stake in IDBI Bank. Although the corporation is under compulsion to act as directed by the central government, it is not right to overlook that the public sector undertaking is exposing itself and policy holders’ money to risk by investing in a badly managed bank with more than 27 per cent ...