From IDBI's path to growth to Maiden Pharmaceuticals' story so far, here's what made the headlines this week
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1) Course correction
IDBI Bank has a rich legacy in the pages of the economic history of India. It has evolved from a development financial institution into a lender, and was then reclassified as a private sector bank in 2019. It has been largely focused on corporate banking, and is now finally up for a strategic sale from its two promoters, LIC and the Government of India. While the bank has turned profitable and provisioned for bad loans, the tricky path to growth and becoming a retail-focused enterprise will present some of the biggest challenges for the new owner.
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