BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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IRDAI has approved a proposal allowing Life Insurance Corporation (LIC) to acquire a majority stake in the IDBI Bank recently. Where is the Headoffice of LIC?
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Pune
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Chennai
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New Delhi
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Mumbai
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Explanation:
Detailed explanation-1: -The LIC during its IPO filings in March this year had said that it will retain part of its 51 per cent stake in IDBI Bank to reap the benefits of the bancassurance channel.
Detailed explanation-2: -The government and LIC together hold 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic sale.
Detailed explanation-3: -The government and LIC hold 94.72 per cent stake together in IDBI Bank.
Detailed explanation-4: -The insurance behemoth, Life Insurance Corporation (LIC) has completed the acquisition of 51 per cent controlling stake in IDBI Bank, marking the entry of more than 60 years old state-owned insurer into the banking space.
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