IDBI Bank strategic transaction to close by fiscal end after RBI clearance: DIPAM Secretary

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The strategic transaction involving IDBI Bank is anticipated to finalize by the end of this financial year. A successful bidder will be required to submit technical papers to the Reserve Bank of India. The existing minority and retail shareholders’ interests will be protected throughout the process. Life Insurance Corporation of India must reduce its stake from 19 percent to 15 percent.

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IDBI Bank strategic transaction to close by fiscal end after RBI clearance: DIPAM Secretary

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