Cabinet nod to strategic divestment in IDBI Bank

Tribune News Service

Updated At : 01:11 PM May 06, 2021 IST

Unlock Exclusive Insights with The Tribune Premium

Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits

Yearly Premium ₹999 ₹349/Year

Yearly Premium $49 $24.99/Year

New Delhi, May 5

The Cabinet Committee on Economic Affairs has given its in-principle approval for strategic disinvestment along with transfer of management control in IDBI Bank Ltd.

The extent of respective shareholding to be divested by the GoI and LIC shall be decided at the time of structuring of transaction in consultation with the RBI, said an official statement.

The Government of India and the LIC together own over 94% of equity of IDBI Bank, with the Centre holding 45.4% and the LIC owning 49.24% stake. — TNS

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Designed and developed by : SORTD

Unlock Exclusive Insights with The Tribune Premium

Suggested Articles