Raj Kumar Steps Down as LIC Nominee Director at IDBI Bank

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.)