RBI rejects Muthoot Finance's proposal to acquire IDBI Asset Management Company

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.

from Banking/Finance-Industry-Economic Times https://ift.tt/33aJ8hx