Tag Archives: IDBI Bank

IDBI Bank engages BCG for Project Nishchay

Reported by | Updated: October 3, 2017

IDBI Bank has formalized an arrangement with Boston Consulting Group (BCG) to help it take up its turnaround program more effectively and improve financial performance. The program, called ‘Project Nishchay’, is aimed at accelerating the pace of business recovery of the bank. It will be managed by senior management of the bank and personnel from […]

IDBI Bank sells stake in CCIL

Reported by | Updated: September 15, 2017

IDBI Bank has exited Clearing Corporation of India (CCIL) after it sold its stake of 2.5% constituting 12.5 lakh equity shares. The price the bank will get for this exit is not disclosed. The bank said in a regulatory filing it has sold 12,50,000 equity shares constituting 2.5% of the paid-up capital of Clearing Corporation […]

IDBI Bank to sell stake in Sidbi

Reported by | Updated: August 1, 2017

IDBI Bank has announced that it is proposing to sell its stake in Sidbi. The bank has 16.25% holding Sidbi and is looking at selling the entire stake. It has put 16 August as the last date for bids. State Bank of India has the largest stake of 16.7% in Sidbi, the central government 15.4%, […]

IDBI Bank introduces RuPay credit card

Reported by | Updated: June 19, 2017

IDBI Bank has announced the launch of ‘Winnings’ RuPay Select credit card. The card offers a range of travel, shopping and dining privileges and enables earning of rewards points on every spend. The card has been launched in association with National Payments Corporation of India. Winnings RuPay Select credit cards are similar to the international […]

IDBI Bank sets up special unit to handle bad loans

Reported by | Updated: June 9, 2017

IDBI Bank has set up a special department to manage its bad loans and to monitor credit. The bank has been placed ‘under watch’ by the RBI and has faced a downgrade by rating agencies recently. The bank is also aiming to raise about Rs 5000 crore to fulfil capital conservation norms. It may sell […]

IDBI Bank announces revamp plan

Reported by | Updated: May 26, 2017

IDBI Bank said it has finalized a comprehensive turnaround strategy, which focuses on improving its capital base and implementing an effective recovery plan for its bad loans. M.K. Jain, MD and CEO of the bank, said the bank is looking at all avenues to improve its capital position and bring the bank on a recovery […]

IDBI Bank employees to strike work

Reported by | Updated: April 3, 2017

The employees of IDBI Bank would strike work on 12 April. Some 15,000 employees are expected to join the one-day strike, organized to demand wage revision. The strike has been supported by the All India Bank Employees’ Association (AIBEA). It said in a circular to its members that a wage revision settlement in IDBI Bank […]

IDBI Bank may cut down stake in non-core biz

Reported by | Updated: February 22, 2017

IDBI Bank will be divesting some of its non-core investments. The bank’s board has approved the proposal but it will be subject to compliance with all applicable laws and regulations. The move is aimed at shoring up the bank. IDBI Bank’s net worth (excluding intangibles) declined 26% year-on-year from Rs 19,323 crore as at December-end […]

RBI permits banks to issue masala bonds

Reported by | Updated: November 4, 2016

The Reserve Bank of India has finally come out with a notification allowing banks to issue masala bonds, which are rupee-denominated bonds, in foreign markets. The move is expected to help the banks to improve their capital base and financing infrastructure. The central bank said banks can raise perpetual debt instruments, which can be considered […]

IDBI Bank dilutes stake in CARE

Reported by | Updated: September 2, 2016

IDBI Bank said it has cut down its stake in rating agency CARE to 3.4% from 6.12%. The bank sold 800,773 shares in the open market and at the prevailing price of around Rs 1240 per share the bank would have received close to Rs 100 crore from the sale. Canara Bank, Life Insurance Corporation […]

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