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LIC to acquire controlling stake of IDBI Bank

News and Press Release - Dated:- 1-8-2018 - Cabinet approves dilution of Government shareholding below 50% The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved conveying of no objection to reduction in Government of India share .....

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t of management control by the Government in the bank. Impact: The acquisition has wide-ranging synergy benefits for customers, LIC and the bank. Benefits to the two entities emanate from economies of scale, reduction in the costs of distribution and .....

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ncial products such as housing finance and mutual funds. Further, the bank would get an opportunity to tap 11 lakh LIC agents for doorstep banking services, positioning it to improve customer services and deepen financial inclusion. The bank would al .....

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916 branches, besides access to bank's cash management services. Further, LIC would gain in terms of furthering the realisation of its vision of becoming a financial conglomerate. Customers too would benefit through wider offerings of financial s .....

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