Strategic Disinvestment of IDBI BANK Ltd Approved

Current GK ( Master) Banking Awareness

The Cabinet Committee on Economic Affairs has approved strategic disinvestment and management control transfer in IDBI Bank Ltd.
The degree to which the Government of India and the Life Insurance Corporation of India will divest their respective shareholdings will be determined in consultation with the Reserve Bank of India.
The Government of India (GoI) and the Life Insurance Corporation of India (LIC) jointly own more than 94 % of IDBI Bank's equity (GoI 45.48 %, LIC 49.24 %).
IDBI Bank with Management Control is currently promoted by Life Insurance Corporation of India(LIC), with Government of India(GoI) serving as a co-promoter.