Don’t miss the latest developments in business and finance.

IDBI Bank proposes to change name

Image
IANS Mumbai
Last Updated : Feb 05 2019 | 1:10 AM IST

IDBI Bank has said that its Board has approved a proposal to change the name of the lender to either LIC IDBI Bank or LIC Bank, subject to regulatory and shareholders' approval.

According to the lender, its Board has approved a proposal for change of name of IDBI Bank, subject to "RBI's no objection, name availability or reservation by MCA, shareholders' approval through postal ballot, stock exchanges' approval...," the lender said in a regulatory filing to the BSE on Monday.

The development comes after LIC acquired a majority stake in the lender.

--IANS

rv/vc

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Feb 05 2019 | 1:02 AM IST

Next Story