Cabinet Approves Strategic Stake Sale In IDBI Bank

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved strategic disinvestment along with transfer of management control in IDBI Bank. Government of India and LIC together own more than 94 per cent stake in IDBI Bank (Government of India owns 45.48 per cent and LIC 49.24 per cent). LIC is currently the promoter of IDBI Bank with management control and central government is the co-promo...