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IDBI Bank's board approves preferential issue of Rs 4,557 crore to government, Rs 4,743 crore to LIC

After this infusion, IDBI Bank expects to be able to subsequently raise further capital on its own and expects to come out of RBI`s Prompt Corrective Action (PCA) framework sometime next year.

Sep 19, 2019, 11:34 AM IST

IDBI Bank to get Rs 9,300 crore capital infusion from government, LIC

Of the total Rs 9,300 crore, LIC would give Rs 4,743 crore while the remaining Rs 4,557 crore has been proposed from government.

Sep 04, 2019, 12:35 PM IST

IDBI to receive Rs 9,300 cr capital to meet CAR

IDBI Bank shareholders -- the government and the Life Insurance Corporation (LIC) of India -- will infuse Rs 9,300 crore in the bank.

Sep 03, 2019, 18:21 PM IST

LIC's new business premium grows 5.68% to Rs 1.42 lakh-cr in FY19

The total assets held by the corporation, which commands over 70 percent of the life insurance industry despite the advent of private companies, stood at Rs 31,11,847 crore as against Rs 28,45,041 crore in the previous year, signifying a growth of 9.38 percent.

Jun 28, 2019, 10:52 AM IST

LIC cuts 2% stake in Axis Bank

LIC sold 5,25,06,202 shares through open market, the filing said without disclosing the sale value.

Jun 25, 2019, 10:08 AM IST

Farmers to contribute Rs 100 per month under PM-Kisan Pension for fixed monthly pension of Rs 3,000

Under this scheme a minimum fixed pension of Rs 3000 per month will be provided to the eligible small and marginal farmers subject to certain exclusion causes on attaining the age of 60 years.

Jun 14, 2019, 11:02 AM IST

IDBI Bank cuts MCLR by 5-10 bps across various tenors

The lender has reduced its one-year MCLR or the minimum lending rate to 8.95 per cent.

Jun 12, 2019, 15:21 PM IST

IDBI Bank narrows Q4 net loss to Rs 4,918 cr on lower bad loan provisions

The bank had reported a net loss of Rs 5,663 crore in the same period last year.

May 31, 2019, 11:02 AM IST

RBI categorises IDBI Bank as private sector lender

In January, LIC completed the process of picking up a controlling 51 per cent stake in the nearly crippled IDBI Bank.

Mar 15, 2019, 12:43 PM IST

LIC completes acquisition of 51% stake in IDBI Bank

IDBI Bank said its retail loan portfolio is expected to reach 50 percent by fiscal 2019-20.

Jan 21, 2019, 13:23 PM IST

LIC makes open offer to acquire 26% stake in IDBI Bank

The open offer has been made at a price of Rs 61.73 a share, which is in connection with LIC's acquisition of 51 percent controlling stake in IDBI Bank.

Dec 19, 2018, 11:20 AM IST

Competition Commission approves LIC's majority stake buy in IDBI Bank

The deal would help the insurance behemoth to enter the banking space and would provide business synergies despite the IDBI Bank's stressed balance sheet.

Nov 28, 2018, 10:56 AM IST

IDBI board approves issuance of preferential shares to LIC

The government has already approved the proposal of LIC to increase the stake in IDBI Bank.

Oct 04, 2018, 17:43 PM IST

India's shadow banking sector likely to face shake-up after IL&FS default

The NBFC loan books have grown at nearly twice the pace of banks, and the cream of them, including IL&FS, had received top credit ratings.

Sep 28, 2018, 15:03 PM IST

IL&FS looks to exit project financing: Report

The report comes a day after the company`s IL&FS Financial Services Ltd unit said it missed repayments on a host of bank loans and some term deposits due this month.

Sep 28, 2018, 12:31 PM IST

LIC yet to seek open offer exemption for IDBI takeover: Sebi

On August 1, the Cabinet Committee of Economic Affairs also cleared the proposal under which the city-headquartered bank will become a subsidiary of LIC.

Sep 19, 2018, 13:49 PM IST

SBI, LIC Housing offer concessional home loan for flood-hit Kerala

SBI, LIC Housing Finance and Muthoot Home on Monday offered loans at concessional rate for repairing and renovation of homes to help people in flood-affected Kerala.

Sep 03, 2018, 21:27 PM IST

Explained! Why LIC is bailing out debt-laden IL&FS

LIC was only seen rescuing debt-ridden public enterprise.

Aug 14, 2018, 13:32 PM IST

Cabinet nod for LIC to acquire controlling stake of IDBI Bank

Post the transaction, IDBI Bank would become a subsidiary of LIC and the insurer would have 51 percent stake.

Aug 02, 2018, 11:23 AM IST

LIC board nod for acquisition of up to 51% stake in IDBI Bank

Now the state-owned Life Insurance Corporation of India (LIC) will approach markets regulator Sebi.

Jul 16, 2018, 14:26 PM IST