IDBI Bank approves raising rupee borrowing limit to Rs 15k-cr

IDBI Bank today said the board of directors has approved enhancing the rupee borrowing limit to Rs 15,000 crore and also decided to infuse an additional capital of over Rs 58 crore in a subsidiary firm.
"Enhancement in rupee borrowing limit from the present limit of Rs 4,000 crore to Rs 15,000 crore, subject to compliance with all applicable laws," it said in a filing to the BSE.
The bank also approved infusion of additional capital of over Rs 58 crore in its subsidiary IDBI Asset Management (IAML).
"Infusion of additional capital of Rs 58.34 crore by way of equity in IDBI Asset Management, bank's subsidiary company, to meet the growth requirements of IAML besides maintaining net worth," it said.

Shares of the bank today closed 4.24 per cent higher at Rs 62.65 per scrip on the BSE.