CCEA clears strategic divestment of IDBI Bank
India Today
The extent of respective shareholding to be divested by the Government of India (GoI) and LIC shall be decided at the time of structuring of transaction in consultation with RBI.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday gave its in-principle approval for strategic disinvestment along with the transfer of management control in IDBI Bank. The extent of respective shareholding to be divested by the Government of India (GoI) and Life Insurance Corporation (LIC) shall be decided at the time of structuring of transaction in consultation with RBI. Government of India (GoI) and LIC together own more than 94 per cent of equity in IDBI Bank — GoI 45.48 per cent and LIC 49.24 per cent. LIC is currently the promoter of IDBI Bank with management control and GoI is the co-promoter.More Related News