Life Insurance Corporation
IDBI Bank approves issuance preference shares to LIC
The move will eventually lead to acquisition of 51 per cent shareholding by the insurance behemoth in the debt-ridden lender.
LIC Board to meet on Sept 4 to decide on raising stake to 51 pc in IDBI Bank
The board will consider the proposal on August 31.
LIC to buy 14.9 per cent stake in IDBI Bank
Union Cabinet had approved LIC's proposed acquisition of up to 51 per cent stake in debt-ridden IDBI Bank.
Questions of propriety raised over LIC bailing out IL&FS
The IL&FS bailout would be one of the biggest for the insurer, as it would mean taking over a debt of Rs 65,000 crore.
IDBI Bank gets govt nod for acquisition by LIC
Post the transaction, IDBI Bank would become a subsidiary of LIC, which will have 51 per cent stake in it.
Young IDBI staff threatens suicide as merger plan with LIC moves on
IDBI Bank Officers’ Association, in association with AIBOC, will go on strike from August 6-10.
LIC-IDBI Bank deal gets clearance from Cabinet
The LIC-IDBI deal has been approved, after the meeting of Union Cabinet, chaired by Prime Minister Narendra Modi.
LIC board approves acquisition of up to 51 per cent stake in IDBI Bank
Insurance regulator Irdai has already given its approval to the insurer for the stake purchase.
LIC unions oppose acquisition of IDBI Bank by insurer
LIC currently holds 11 per cent stake in IDBI bank and its total stressed portfolio is 35.9 per cent of total loans.
Game of daylight robbery
PSUs have been repeatedly used by successive governments to bail out sick units or failed attempts to raise funds.