LIC mutual fund plans to absorb IDBI mutual fund https://ift.tt/23QZH8G Bank-promoted IDBI MF had to be either sold or merged with LIC MF because, under Sebi rules, one promoter cannot have more than 10% stake in two mutual funds. Life Insurance Corp of India (LIC), the promoter of LIC MF, took a controlling stake in IDBI Bank in 2019.
Tuesday, July 5, 2022
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