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Published on 1/02/2020 1:00:13 PM | Source: Live Mint

Budget 2020: Govt plans to raise funds through LIC IPO

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Finance Minister Nirmala Sitharaman today said that government plans to sell partial stake in LIC through IPO or initial public offer. In her Budget proposal, she proposed that will the government will sell its stake in IDBI Bank to private investors and also amend Banking Regulation Act to strengthen co-op banks

The finance minister also said that the deposit insurance coverage against bank failure will be increased to ₹5 lakh from ₹1 lakh.

She also proposed expand exchange traded fund by floating a Debt ETF, consisting primarily of government securities.