BANKING

The government has kick-started the process of sale of its stake in IDBI Bank, where government shareholding is at 45.48%, LIC of India holds 49.24% and non-promoter shareholding is at 5.29%. The Cabinet Committee on Economic Affairs had given an in-principle approval for the strategic divestment of IDBI Bank in May this year, which includes giving up management control.

from Banking/Finance-Industry-Economic Times https://ift.tt/3fLZaoa
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