bank. However, IDBI continued to base its policy towards industrial sector like the erstwhile IDBI entity did. This resulted in the retail business of the bank to be limited to 13 percent of its total business. , the total Non Performing Assets (NPA) rose to and were about 28 percent of its total loans. This was the highest among Indian banks. The Union government intervened, with Life Insurance Corporation bailing out the bank with an infusion of crores. On 29 June 2018, LIC got a technical go-ahead from the Insurance Regulatory and Development Authority of India (IRDAI) to increase stake in IDBI Bank up to 51%. LIC completed the acquisition of 51% controlling stake on 21 January 2019, with a total investment of crores. Operations Acquisition of United Western Bank In 2006, IDBI Bank acquired United Western Bank (headquartered at Satara) in a rescue. By acquiring UWB, IDBI Bank doubled the number of its branches from 195 to 425. Strategic disinvestment to LIC LIC of India completed the acquisition of 51% controlling stake in the bank in January 2019, making it the majority shareholder. Subsequent to the enhancement of equity stake by LIC of India, Reserve Bank of India has clarified via press release on 14 March 2019, that IDBI Bank stands re-categorised as a private sector bank, with retrospective effect from 21 January 2019. LIC took over the management control of the bank while the Union government, categorised as a promoter. Listings and shareholding IDBI Bank's equity shares are listed on Bombay Stock Exchange and the National Stock Exchange of India. , the Union government held 45.48% shares in IDBI Bank, while LIC held 49.24% and the remaining is held by non-promoters. Employees As of 31 March 2015, the bank had 16,555 employees, out of which 197 were employees with disabilities. The average age of bank employees on the same date was 34 years. The bank reported a business of ₹25.64 crores per employee and a net profit of ₹12.17 lakhs per employee during the FY 2012–13. The company incurred a loss of ₹1,538 crores towards employee benefit expenses during the same financial year. As promised by the bank's MD and CEO the employees will keep getting the same benefits and enjoy the same job security even after LIC getting the promoter status. IDBI Intech IDBI Intech Ltd. (IIL) is a wholly owned subsidiary of IDBI Bank, established in