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%.Powered by Capital Market - Live News
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