
LIC should change name of IDBI Bank to LIC Bank of India
It refers to reports about market-share of LIC of India in life-insurance first time falling below 70-percent. But remedial steps can raise market-share of important Public-Sector-Undertaking considerably apart from reducing overheads to increase profitability.
LIC of India having acquired 51-percent stake in public-sector IDBI Bank should change name of the Bank to LIC Bank of India with merger of several small public-sector banks in this newly suggested Bank, like public-sector Dena Bank and Vijaya Bank are to merge into another public-sector Bank of Baroda. Then newly named LIC Bank of India can be yet other anchor-bank where other public-sector banks are planned to be merged in future.
It provide a single window to customers for banking and insurance which may make suggested LIC ...