M&A

M&A

RBI allows IDBI Bank bidders to own more than 40%: report

Business Standard  

The Reserve Bank of India (RBI) has reportedly accepted the proposal for allowing non-financial institutions and non-regulated entities to own more than 40% IDBI Bank, as the Union government and Life Insurance Corporation (LIC) look to sell 51-74% stake in the lender through the strategic divestment process.