by AIP Online Bureau | Dec 6, 2022 | Banking & Bancassurance, Indian News, Policy, Regulation
The current guidelines of the Reserve Bank of India restrict foreign ownership in new private banks. The government and Life Insurance Corporation of India together hold 94.71% in IDBI Bank and are looking to sell 60.72%. New Delhi: The Indian government will allow a...
by AIP Online Bureau | Oct 21, 2022 | Banking & Bancassurance, Eco/Invest/Demography, Indian News
After years of trying, the government has only been able to privatise national carrier Air India Ltd. and introduce outside backers to LIC, while its plans to sell refiner Bharat Petroleum Corp Ltd. hit a wall as bidders struggled to find partners. New Delhi: India is...
by AIP Online Bureau | Oct 20, 2022 | Indian News, Life, Policy
LIC had bought a 51 per cent stake in IDBI Bank in 2019 for Rs 21,624 crore at an average price of Rs 61 per share. Following a QIP issue in December 2020, the stake of LIC came down to 49 per cent New Delhi: State-owned insurance behemoth LIC is expected to recover...
by AIP Online Bureau | Oct 18, 2022 | Banking & Bancassurance, Indian News, Policy
Earlier this month, India invited bids for a 60.72% stake in IDBI Bank — which is 45.48% owned by the government and 49.24% by state-owned Life Insurance Corp (LIC) — after dragging its feet for years New Delhi; The Indian government is in talks with the...
by AIP Online Bureau | Oct 10, 2022 | Banking & Bancassurance, Indian News, Life
Private sector banks, foreign banks, Reserve Bank of India(RBI) registered non-banking finance companies, Sebi-registered Alternative Investment Funds (AIFs), a fund/investment vehicle incorporated outside India would be allowed to submit bids, either individually or...
