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Board of Federal Bank approves hike in stake in IDBI Federal Life Insurance Co

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Capital Market
Last Updated : Apr 21 2020 | 4:16 PM IST

On 20 April 2020

The Board of Federal Bank on 20 April 2020 has approved in principle to purchase additional stake of up to 4% in the equity capital of IDBI Federal Life Insurance Co (IFLIC) from IDBI Bank, subject to price finalization and all relevant regulatory approvals. Bank currently holds a 26% stake in IFLIC, making it an Associate of the Bank. Post purchase the total stake may increase up to 30%.

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First Published: Apr 21 2020 | 4:05 PM IST

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