IDBI Bank gets government nod for acquisition by LIC

In a stock exchange filing the state-owned bank said that the government has conveyed its "no objection" to reduction in government's shareholding to below 50 per cent, relinquishment of management control in IDBI Bank and acquisition of controlling stake in IDBI Bank by LIC as promoter.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2vnHPLh