IDBI Bank, which was planning to sell its mutual fund business for Rs 215 crore to comply with regulations, will now have to find a new buyer. IDBI Bank, which is a subsidiary of Life Insurance Corporation, has to divest its share in the AMC since LIC already has a mutual fund unit.source https://economictimes.indiatimes.com/industry/banking/finance/rbi-rejects-muthoot-finances-proposal-to-acquire-idbi-asset-management-company/articleshow/79400954.cms
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