The Cabinet has approved the sale of a controlling stake to Prem Watsa’s Fairfax for ₹52,878 crore. It is the largest foreign investment in an Indian bank and the closest thing India... Read more »
Around 6,800 cases of bank have been caught in a whopping Rs 71,500 crore fraud in 2018-19, the Reserve Bank of India has said. A total of 5,916 such cases were recorded... Read more »
The IDBI Bank’s proposal for changing its name has not found any favour from the Reserve Bank of India, sources said. The board of IDBI Bank last month proposed a change in... Read more »
LIC completed acquisition of 51% controlling stake in IDBI Bank today on 21st January 2019, making it the majority shareholder of the bank. The deal, conceptualized in June 2018, is envisaged as... Read more »
The government is likely to recapitalise some state-run banks in urgent need by up to Rs 10,000 crore within a few days to help them meet regulatory capital requirements, official sources said... Read more »
State-run IDBI Bank on Tuesday said it will seek rgw central government’s nod on the Life Insurance Corp’s (LIC) proposal to acquire 51 per cent stake in the debt-ridden lender. According to a... Read more »