LIC-IDBI Bank deal: Day after cabinet nod, debt-laden PSU bank says yet to receive government’s approval on merger

The Cabinet on Wednesday had given approval to the government’s decision to reduce its stake in IDBI Bank below 50 percent and LIC raising stake to 51 percent, paving way for LIC to acquire majority stake in the public sector bank.

from The Financial ExpressThe Financial Express https://ift.tt/2AuFSBH