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IDBI Bank sets up special unit to handle bad loans

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 its non-core assets for this purpose. According to the bank’s ED P. Sitaram, the bank has set up a NPA management and credit monitoring group at the head office and it consists of experienced people from both corporate and retail. They are giving focused attention on each case of NPA, he added. He also said the bank is working with other banks to make some of assets live and put them into the stream.

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