IRDAI approved a proposal to LIC to acquire a majority stake in this b – InterviewSolution

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1.	IRDAI approved a proposal to LIC to acquire a majority stake in this bank.
Answer» The Insurance Regulatory and Development Authority of India (IRDAI) has approved a proposal allowing Life Insurance Corporation (LIC) to acquire a majority stake in the IDBI bank. Under the proposal, the public sector life insurance behemoth can raise its stake in the public sector bank to 51%, injecting Rs10,000-13,000 crore in the debt-ridden lender. The acquisition, however, will be seen only as an investment and LIC will gradually lower its stake in the lender.

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