After nearly four years IDBI Bank came out of the restrictions imposed on it by the Reserve Bank of India under the prompt corrective action (PCA) framework last week. The move comes at a time when the government and Life Insurance Corporation (LIC) are planning to divest their stakes in IDBI Bank. While the LIC holds a 49.24 per cent stake in IDBI Bank, the government holds 45.48 per cent. IDBI Bank was categorised as a private sector bank by the regulator after LIC acquired a 51 per cent stake in the bank in 2019.
The then public sector lender