Govt clears over Rs 9,000cr fund infusion in IDBI Bank

The government on Tuesday approved a recapitalisation plan of Rs 9,000 crore for the beleagured IDBI Bank. The one-time fund infusion will be done by both government and Life Insurance Corporation of India (LIC). While government will infuse Rs 4,557 crore by as one-time re-capitalisation, LIC -- which is the major owner of IDBI Bank, will also infuse Rs 4,700 crore in IDBI.

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