2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Union Bank of India
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IDBI Bank
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Canara Bank
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Kotak Mahindra Bank
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Detailed explanation-1: -The government and LIC hold 94.72 per cent stake together in IDBI Bank.
Detailed explanation-2: -IDBI Bank stated that the company “has allotted 82,75,90,885 equity shares to Life Insurance Corporation of India at a price of 60.73 per share (inclusive of premium amount of 50.73 per share) aggregating to Rs.
Detailed explanation-3: -LIC has picked up nearly 3.9 per cent (15,90,07,791 shares) of the bank through open market acquisition on September 2, 2021, Bank of India said in a regulatory filing. Before the latest acquisition of shares in the bank, LIC held over a 3.17 per cent stake in the state-owned bank.
Detailed explanation-4: -LIC completed the takeover of IDBI Bank, the sponsor of IDBI Mutual Fund, in January 2019. However, LIC has its own asset management company, LIC Mutual Fund, under the Securities and Exchange Board of India (Sebi) rules.