thehindubusinessline.com

AIBOA seeks IRDAI review of LIC sale price for IDBI Bank stake

IDBI Bank logoIDBI Bank
Sig2.35Sen-1.40Env0.00Soc-1.70Gov-1.90

All-India Bank Officers’ Association urged IRDAI to intervene in LIC’s proposed sale of its stake in IDBI Bank, arguing that any transaction priced substantially below expected long-term returns could harm policyholders. The group cited IRDAI’s 2018 approval for LIC’s 51% acquisition with conditions to safeguard policyholder interests and maximize returns, questioning a reported exit price near ₹82 versus ₹61 paid in 2018.

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