Raj Kumar Steps Down as LIC Nominee Director at IDBI Bank

Raj Kumar has stepped down as the LIC Nominee Director on IDBI Bank's Board as of May 18, 2025, marking the end of his term. The government and LIC are the bank's main promoters, collectively owning over 94% of its shares. IDBI's stock saw a 4.99% increase in trading.

Raj Kumar, the LIC Nominee Director, has stepped down from the Board of IDBI Bank as of May 18, 2025. His departure coincides with the completion of his term.

IDBI Bank, primarily promoted by the government and Life Insurance Corporation (LIC), sees these entities holding a significant stake, with LIC owning just over 49% and the government holding 45.48%.

On the BSE, IDBI Bank's shares witnessed a notable rise, trading at Rs 90.30, marking a 4.99% increase from the previous closing price.

(With inputs from agencies.)