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LIC board approves acquiring 51% stake in IDBI Bank through preferential share allotment

Department of Economic Affairs Secretary Subhash Chandra Garg said that since the combined shareholding of both the government and LIC would be over 90 per cent, and that public shareholding is too low, an open offer might not be on the cards.

The Instant Money Transfer service by State Bank of India allows the bank's customers to make wire transfers by providing just the basic details of the beneficiary.
Earlier in April, the bank CEO had wanted her new term to be reduced to seven months from three-year tenure, which was accepted by the bank board subsequently.
The Reserve Bank of India has issued licence to Bank of China to launch operations in India, official sources said today.