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Everything you want to know about IDBI Bank

Consultation with the RBI is on to check how many technical bidders are 'fit and proper'. In the next stage, financial bids will be called and IDBI Bank will open up the virtual data room for bidders

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7 min read Last Updated : Jun 18 2023 | 6:09 PM IST

It must be music to the ears of the government of India (GoI) and Life Insurance Corporation of India (LIC). IDBI Bank Ltd, in which LIC and GoI hold 49.24 per cent and 45.48 per cent, respectively, is set to pay dividend for FY23, subject to shareholder approval.

The last time it had paid a dividend (7.5 per cent) was in 2015, just before the rut started, which forced the Reserve Bank of India (RBI) to bring the bank in its prompt corrective action, or PCA, fold (in May 2017), restraining its growth. This time, IDBI Bank plans to pay

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

Topics : finance sector IDBI Bank RBI LIC Dipam dividend Divestment

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