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Start of An Era, LIC Enters Banking Business with 51% Stake in IDBI Bank


LIC is now the owner of IDBI Bank, as the Insurance Regulatory and Development Authority of India (IRDA) on Friday approved a proposal by Life Insurance Corporation of India (LIC) to raise its stake in IDBI Bank up to 51% from the current 10.82%. IRDA has given a special relaxation to LIC to enhance share to 51%  from 15% holding cap ...

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RBI Slaps Rs 3 Crore Fine on IDBI Bank

RBI has imposed a penalty of Rs 3 crore on IDBI bank for non-compliance to the Income Recognition and Asset Classification (IRAC) norms. RBI has informed the bank vide its letter dated April 10, 2018, a monetary penalty of Rs 30 million on the Bank in exercise of the powers…for non compliance with the directions issued by it on Income Recognition ...

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