News From Press LIC to set time-line for paring IDBI Bank stake: Irdai's Sathe

LIC to set time-line for paring IDBI Bank stake: Irdai's Sathe

Source: PTI/The Economic Times Jan 25, 2019

The insurance regulator has not set any timeline for Life Insurance Corporation (LIC) to bring down its stake in IDBI BankNSE -0.97 % from the present 51 percent holding to the law mandated under-15 percent, a senior Irdai official said Thursday.

In fact, Irda feels a time-line for reducing its stake in IDBI Bank has to be decided by the LIC management itself as a regualtor mandated time-line can impact stock prices.

On Monday, LIC had announced completion of acquisition of 51 ..

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