Lic Idbi-bank-deal

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Lic Idbi-bank-deal - Total results - 15
Budget 2020: Banking sector is feeling the heat of economic slowdown; can Nirmala Sitharaman clear the mess?
Business

Budget 2020: Banking sector is feeling the heat of economic slowdown; can Nirmala Sitharaman clear the mess?

In a normal scenario, these suggestions make sense. But, the state of Indian banking sector is far from normal.

Nirmala Sitharaman says states refusing to implement CAA is 'unconstitutional', all have responsibility to ensure law is enforced
India

Nirmala Sitharaman says states refusing to implement CAA is 'unconstitutional', all have responsibility to ensure law is enforced

Defending the Citizenship (Amendment) Act, Nirmala Sitharaman maintained there was no necessity to mix up the National Register of Citizens (NRC) and National Population Register with the CAA and appealed to those opposing the act not to make allegations that would lead to unrest among the public.

Union Budget 2020: Finance Minister Nirmala Sitharaman has her task cut out for crisis-ridden banking sector
Business

Union Budget 2020: Finance Minister Nirmala Sitharaman has her task cut out for crisis-ridden banking sector

In a normal scenario, these suggestions make sense. But, the state of Indian banking sector is far from normal.

S&P affirms IDBI Bank rating; LIC capital infusion to accelerate write-offs
Business

S&P affirms IDBI Bank rating; LIC capital infusion to accelerate write-offs

S&P has removed IDBI Bank's ratings from 'CreditWatch', where they were placed with negative implications on 17 August, 2018.

LIC-IDBI Bank deal: State-owned lender approves insurance behemoth's proposal to pick up additional 7% stake
Business

LIC-IDBI Bank deal: State-owned lender approves insurance behemoth's proposal to pick up additional 7% stake

Earlier this month, the Union Cabinet had approved LIC's proposed acquisition of up to 51 percent stake in debt-ridden IDBI Bank.

LIC to buy 14.9% stake in IDBI Bank; move would eventually lead to acquisition of majority stake in state-owned lender
Business

LIC to buy 14.9% stake in IDBI Bank; move would eventually lead to acquisition of majority stake in state-owned lender

In August, the Union Cabinet had approved LIC's proposed acquisition of up to 51 percent stake in debt-ridden IDBI Bank.

IDBI Bank gets govt nod to sell controlling stake to state-run LIC; lender could receive Rs 13,000 crore capital support
Business

IDBI Bank gets govt nod to sell controlling stake to state-run LIC; lender could receive Rs 13,000 crore capital support

Post the transaction, IDBI Bank would become a subsidiary of LIC, which will have 51 percent stake in it. Currently, LIC holds 7.98 per cent stake in the debt-ridden public sector bank.

Moody's places IDBI Bank's long-term ratings under review ahead of proposed acquisition by LIC
Business

Moody's places IDBI Bank's long-term ratings under review ahead of proposed acquisition by LIC

Moody's said the review for upgrade will focus on the exact amount of fresh equity that LIC will inject into the bank and its impact on IDBI's capitalisation

LIC-IDBI Bank deal: Reserve Bank of India gives go ahead to insurer's proposal to increase stake to 51%
Business

LIC-IDBI Bank deal: Reserve Bank of India gives go ahead to insurer's proposal to increase stake to 51%

LIC currently owns 7.98 per cent in the bank, down from 10.82 per cent in March 2018 following an equity infusion by the government

IDBI Bank board seeks government's nod on LIC's proposal to acquire up to 51% stake in debt-ridden lender
Business

IDBI Bank board seeks government's nod on LIC's proposal to acquire up to 51% stake in debt-ridden lender

Once the deal goes through, IDBI Bank will get much-needed capital support to revive its fortune

LIC-IDBI Bank deal: Five questions the state-run insurer should answer while betting big on a zombie bank
Business

LIC-IDBI Bank deal: Five questions the state-run insurer should answer while betting big on a zombie bank

LIC is taking off some burden from the government that is saddled with capital-hungry zombie banks. But, what does the deal really mean for LIC?

LIC board to meet today to finalise acquisition of stake in IDBI Bank, say sources
Business

LIC board to meet today to finalise acquisition of stake in IDBI Bank, say sources

LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender's stressed balance sheet.

LIC-IDBI Bank deal: Ownership change of debt-ridden lender unlikely to affect ratings, says ICRA
Business

LIC-IDBI Bank deal: Ownership change of debt-ridden lender unlikely to affect ratings, says ICRA

The acquisition of stake in IDBI Bank is likely to be done under the policyholders accounts of LIC and hence even a 51 percent stake in the bank will not make IDBI bank a subsidiary of LIC, says ICRA

LIC-IDBI Bank deal: Insurer to make open offer to minority shareholders of debt-ridden lender
Business

LIC-IDBI Bank deal: Insurer to make open offer to minority shareholders of debt-ridden lender

LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender's stressed balance sheet

LIC gets IRDAI nod for IDBI Bank buy: NPA-ridden lender gets a policy cover and the insurer, a risky bet
Business

LIC gets IRDAI nod for IDBI Bank buy: NPA-ridden lender gets a policy cover and the insurer, a risky bet

LIC is using the insurance premium it collected from customers to bailout IDBI Bank, and should the experiment go wrong, it will have to answer the customer first.