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In April 2020, the board of directors of Federal Bank gave in-principle nod to acquire an additional stake of up to how much per cent in the equity capital of IDBI Federal Life Insurance Co Ltd (IFLIC) from the IDBI Bank?

In April 2020, the board of directors of Federal Bank gave in-principle nod to acquire an additional stake of up to how much per cent in the equity capital of IDBI Federal Life Insurance Co Ltd (IFLIC) from the IDBI Bank? Correct Answer 4

  • The board of directors of Federal Bank gave in-principle nod to acquire an additional stake of up to 4% in the equity capital of IDBI Federal Life Insurance Co Ltd (IFLIC) from the IDBI Bank.
  • Federal Bank currently holds a 26% stake in the insurance company.
  • The move follows IDBI Bank's plans to sell between 23-27% in the life insurance company.
  • IDBI Bank owns a 48% stake in the company.

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