Letter to BS: LIC board gives nod to 51% stake in debt-ridden IDBI Bank

The last three years have been stressful for banks, the government and the banking regulator

This refers to the report “LIC board gives nod to 51 per cent stake in IDBI Bank” (July 17). Hopefully, other regulatory approvals necessary for the LIC-IDBI Bank marriage to consummate, will not get delayed. Any delay will give room for hairsplitting analyses by media and legal experts about the pros and cons, sans any practical solution to the underlying problems surfacing.

Public memory may be short, but there is the live example of Air India which has got admitted into the multi-specialty ICU of the privatisation lobby, with no hope of an easy exit route. Though comparing Air