LIC to pay 20,000 cr. for IDBI bank

It’s no more a news that LIC is eyeing to grab majority of holdings in the IDBI bank. The measure was initiated to give new life to IDBI bank which is on the brink of failure. Now the broad of LIC has given a green signal for the project to go ahead. It’s now estimated that the Insurance giant has to pay more than 20 thousand crore rupees to IDBI to grab 51 percent of its holdings. The deal should also get clearances from various watch dogs such as central government, RBI and SEBI. The deal has gone ahead despite facing stiff opposition from the employees and customers of LIC. They claimed that the honest paid amounts of the policy holders is being misused by the organisation. But who cares! The deal is going to get realised soon!