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The Times of India
The Times of India
Business
PTI

LIC wants to remain IDBI Bank shareholder for bancassurance gain

LIC IDBI Bank Life Insurance Corporation New Delhi

NEW DELHI: IPO-bound Life Insurance Corporation (LIC) on Monday said it would like to retain some stake in IDBI Bank so that the insurer continues to reap the benefits of the bancassurance channel.

IDBI Bank became a subsidiary of LIC with effect from January 21, 2019, following the acquisition of an additional 8,27,590,885 equity shares.

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