2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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20 %
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63 %
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42 %
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51 %
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Detailed explanation-1: -The government and LIC hold 94.72 per cent stake together in IDBI Bank.
Detailed explanation-2: -The government owns 45.48% of IDBI Bank, and is looking to divest a 30.48% stake in the lender, alongside state-owned Life Insurance Corp of India (LIC) (LIFI. NS), which will sell a 30.24% from its holding of 49.24% in the bank.
Detailed explanation-3: -The correct answer is IDBI Bank. 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.
Detailed explanation-4: -Life Insurance Corporation of India LIC is governed by the Insurance Act 1938, LIC Act 1956, LIC Regulations 1959 and Insurance Regulatory and Development Authority Act 1999.