LIC's takeover of IDBI Bank

Shotgun marriage

Print edition : August 03, 2018

The IDBI Towers, the bank’s head office, in Mumbai. A file picture. Photo: Shashi Ashiwal

The LIC building on Anna Salai in Chennai. Photo: M. PRABHU

The coerced takeover of the publicly owned IDBI Bank by LIC, the country’s largest insurer, will neither protect the interests of the beleaguered bank nor further the interests of the insurer or its policyholders.
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