IRDAI seeks proposal from LIC on stake reduction in IDBI Bank
Updated : March 11, 2019 02:52 PM IST
Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.
Besides, the Reserve Bank permits a ceiling of 15 per cent for promoter stake in a private sector bank.
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