<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">The Life Insurance Corporation, LIC, board today gave approval to the acquisition of up to 51 per cent stake in debt-ridden IDBI Bank. </div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">This was informed by Economic Affairs Secretary S C Garg.  </div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">Now, the state-owned LIC will approach market regulator Sebi on the matter. </div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">Insurance regulator IRDAI has already given its approval to the LIC for the stake purchase. The LIC stake buy will help the IDBI get a capital support of 10,000 to 13,000 crore rupees.</div>