Govt to allow foreign ownership of over 51% in IDBI Bank3 min read . Updated: 06 Dec 2022, 09:19 PM IST
- This is set to raise the investor interest in the ongoing disinvestment process of the bank where government and Life Insurance Corporation of India are selling 60.72% stake and transferring management control to the winning bidder
NEW DELHI : Foreign funds, investment vehicles incorporated outside India can own more than 51% in IDBI Bank, the government said in a clarification, noting that the residency criteria for promoters under the RBI guidelines for new private banks would not apply to consortia consisting of such funds.
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