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Moody's upgrades IDBI Bank's rating by a notch on LIC takover

Updated : January 24, 2019 06:23 AM IST

The upgrade follows the Life Insurance Corporation acquiring 51 percent stake in the crippled lender which has around 32 percent of its assets as dud loans, thereby, improving its solvency.
On Monday, the lender received Rs 5,030 crore from the allotment of new shares to LIC.
Moody's upgrades IDBI Bank's rating by a notch on LIC takover

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