Correct option is D
The correct answer is (D) IDBI Bank
Explanation:
In May 2022, IDBI Bank sold 25% (one-quarter) of its equity stake in Ageas Federal Life Insurance.
The stake sale was part of IDBI Bank’s capital-raising and disinvestment strategy.
The shares were sold to Ageas Insurance International, which increased its holding in the joint venture.
After the transaction, Ageas became the majority shareholder.
Information Booster:
Ageas Federal Life Insurance is a joint venture between:
Ageas Insurance International (Belgium)
Federal Bank (India)
Stake sale helped IDBI Bank:
Improve capital adequacy
Focus on core banking operations
Additional Knowledge:
IDBI Bank has undergone restructuring and partial privatisation in recent years.
The Indian insurance sector allows foreign investment up to 74% under the automatic route.
Life insurance joint ventures are regulated by IRDAI.
