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JP Morgan interest in Indian bank

JP Morgan interest in Indian bank

(India) - Global banking player JP Morgan has proposed a deal to take a 26 percent stake in state owned IDBI Bank. IDBI Bank is 58 percent controlled by Government controlled holding company IDBI, which has been directed to reduce its stake to no more than 49 percent.

JP Morgan is believed to be the only foreign bank to show interest in IDBI Bank.
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