https://www.taxtmi.com/news?id=20350 Cabinet approval permits reduction of Government of India shareholding in IDBI Bank below 50% and allows Life Insurance Corporation of India to acquire a controlling stake as promoter through preferential allotment and/or an open offer, with the Government relinquishing management control; anticipated commercial effects include economies of scale, cross selling, access to LIC's agent network, bancassurance through the bank's branches, and lower cost of funds. en-us Wed, 01 Aug 2018 18:17:08 +0530 Wed, 01 Aug 2018 18:17:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=20350 Cabinet approval permits reduction of Government of India shareholding in IDBI Bank below 50% and allows Life Insurance Corporation of India to acquire a controlling stake as promoter through preferential allotment and/or an open offer, with the Government relinquishing management control; anticipated commercial effects include economies of scale, cross selling, access to LIC's agent network, bancassurance through the bank's branches, and lower cost of funds. News - Wed, 01 Aug 2018 18:17:08 +0530 https://www.taxtmi.com/news?id=20350