2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Canara Bank
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SBI
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Union Bank of India
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Punjab National Bank
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Detailed explanation-1: -The government and Life Insurance Corp (LIC) together hold 94.72 per cent in IDBI Bank.
Detailed explanation-2: -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.
Detailed explanation-3: -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.
Detailed explanation-4: -Life Insurance Corporation of India (LIC) has bought 3.9 per cent (15, 90, 07, 791 shares) of the Bank of India through open market acquisition.