Meanwhile, rating agency ICRA assigned the bank with ‘negative’ outlook and removed it from ‘rating watch with developing implications.â€
Mumbai: IDBI Bank has been categorised as a private sector bank by the RBI as state owned Life Insurance Corporation of India holds 51 per cent majority stake in the bank.
In a press release, the RBI said, “IDBI Bank has been categorized as a ‘Private Sector Bank’ for regulatory purposes by RBI with effect from January 21, 2019 consequent upon LIC acquiring 51 per cent of the total paid-up equity share capital of the bank.
Meanwhile, rating agency ICRA assigned the bank with ‘negative’ outlook and removed it from ‘rating watch with developing implications.”
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