2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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24%
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45%
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51%
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32%
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Detailed explanation-1: -According to a government clarification on Tuesday, the Central Government will be allowing a consortium of foreign funds and investment companies to own over 51% in state-owned IDBI Bank Ltd.
Detailed explanation-2: -FDI refers to the investment made by an individual or firm from one country into business interests of different country. FDI in private sector banking sector is allowed up to 74% in India.
Detailed explanation-3: -The government owns 45.5% stake in the public sector lender, and Life Insurance Corporation of India holds a 49.24% stake. LIC is currently the promoter of the bank.
Detailed explanation-4: -The government, which owns 45.48% of IDBI Bank, is looking to divest a 30.48% stake in the lender, alongside state-owned Life Insurance Corp of India (LIC), which will sell a 30.24% stake from its holding of 49.24% in the bank.