IDBI

The board of the Life Insurance Corporation (LIC) of India has approved the proposal to buy 51% shares in the state-run IDBI Bank



IDBI

  • IDBI Bank (Industrial Development Bank of India) was established in 1964 by an Act of Parliament to provide credit and other financial facilities for the development of the fledgling Indian industry.
  • It is owned by the Government of India.
  • It is one among the public sector banks in India and is a nationalized bank to be treated on par with State Bank of India (SBI) and other nationalized banks in accordance with the notification dated 26th February 2013 by the finance ministry.