Letter to BS: Deal between LIC and IDBI Bank raises many questions

IDBI Bank most certainly does not qualify to be bought over by LIC

Apropos “In RBI’s Court” (July 3); appreciate the plain speak. This editorial should set the Reserve Bank of India (RBI) thinking — and take a prudent decision in the matter. It is indeed shocking that Life Insurance Corporation of India (LIC) has been given a go ahead in this matter. 

IDBI Bank is very sick. Losses of Rs 25 billion — and counting — in one year is frightening. As on date, the total loss figure may well be around Rs 70 billion. That their “capital adequacy ratio is perilous” — despite the government having infused Rs 100 billion makes it