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Published 1 year ago

IDBI Bank | Foreign Funds: Govt to allow foreign funds to own over 51% in IDBI Bank

Summary by Ground News
The Central Government will be allowing a consortium of foreign funds and investment companies to own over 51% in state-owned IDBI Bank Ltd. The current Reserve Bank of India rules restrict foreign ownership in new private banks. The development come ahead of a 16 December deadline to submit expressions of interest or preliminary bids for a majority stake.

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