IDBI Bank may get a new name soon, check what LIC has proposed
LIC has completed the acquisition of 51 per cent controlling stake in IDBI Bank last month, marking the entry of more than 60 years old state-owned insurer into the banking space.
LIC had 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. Reuters