Rbi Categorises Idbi Banking Concern Equally Mortal Sector Bank

In a recent press release, the Reserve Bank of Republic of Republic of India (RBI) has announced that the state owned IDBI Bank has been categorised equally a Private Sector Lender for regulatory purposes yesteryear alongside outcome from 21st Jan 2019.

The deed came afterwards the Life Insurance Corporation (LIC) of Republic of Republic of India acquired 51% of the full paid-up equity part upper-case missive of the alphabet of the bank.

IDBI Bank Limited has been categorized equally a ‘Private Sector Bank’ for regulatory purposes yesteryear Reserve Bank of Republic of Republic of India alongside outcome from Jan 21, 2019 consequent upon Life Insurance Corporation of Republic of Republic of India acquiring 51% of the full paid-up equity part upper-case missive of the alphabet of the bank“, Reserve Bank announced inwards a statement.

Note : As of now, the Life Insurance Corporation of Republic of Republic of India holds 51% stake inwards IDBI Bank as well as the Union Government holds 46.46% as well as the remaining 2.54% held yesteryear public.

About IDBI Bank

  • Established on : 1st July 1964
  • Headquarters : Mumbai
  • MD & CEO : Rakesh Sharma
  • Non-Exe Chairman : Hemant Bhargava
  • Owner : LIC

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