LIC Nominee Director Resigns from IDBI Bank Board
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Raj Kumar, LIC Nominee Director, has ceased to be on the board of IDBI Bank with effect from May 18, 2025, completing his term. LIC holds over 49% of IDBI Bank.
New Delhi, May 19 (PTI) IDBI Bank on Monday said LIC Nominee Director Raj Kumar has ceased to hold the board seat with effect from May 18.
"Raj Kumar has ceased to be LIC Nominee Director on the Board of IDBI Bank Limited with effect from May 18, 2025 on completion of his term," IDBI Bank said in a regulatory filing.
The government and Life Insurance Corporation (LIC) are promoters of IDBI Bank, holding 94.71 per cent. While LIC holds little over 49 per cent, the government's holding is 45.48 per cent.
Shares of IDBI Bank were trading at Rs 90.30 apiece, up 4.99 per cent over previous close on the BSE.
"Raj Kumar has ceased to be LIC Nominee Director on the Board of IDBI Bank Limited with effect from May 18, 2025 on completion of his term," IDBI Bank said in a regulatory filing.
The government and Life Insurance Corporation (LIC) are promoters of IDBI Bank, holding 94.71 per cent. While LIC holds little over 49 per cent, the government's holding is 45.48 per cent.
Shares of IDBI Bank were trading at Rs 90.30 apiece, up 4.99 per cent over previous close on the BSE.
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