IDBI Bank a strategic partner, don't want to exit it fully: LIC chairman

Kumar says investors need not worry about govt control post IPO

The Life Insurance Corporation of India (LIC) does not intend to sell its entire stake in IDBI Bank, considering that the lender is its strategic partner for the bancassurance channel. Also, at a time when the state-run insurer is looking to expand its bancassurance business, the relationship with IDBI Bank is of much significance, LIC Chairman M R Kumar said on Monday.

Kumar said LIC was keen to list in March itself despite global geo-political tensions weighing on market sentiment -- a stance that has been echoed by finance ministry officials time and again.

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