Don’t miss the latest developments in business and finance.

IDBI says has near 20 billion rupees exposure to companies affected by coal ruling

Image
Reuters MUMBAI
Last Updated : Sep 24 2014 | 3:25 PM IST

MUMBAI (Reuters) - State-run lender IDBI Bank Ltd has close to 20 billion rupees ($328 million) loan exposure to companies affected by a Supreme Court order scrapping coal blocks but not all of it will be problematic, the lender's head said on Wednesday.

"We are assessing," M.S. Raghavan, chairman and managing director of IDBI Bank, told Reuters after the Supreme Court's verdict.

IDBI Bank shares were down 5.3 percent by 0924 GMT compared to a flat performance in Nifty. The Bank Nifty fell about 1 percent.

($1 = 60.9650 rupees)

(Reporting by Devidutta Tripathy; Editing by Rafael Nam)

Also Read

First Published: Sep 24 2014 | 3:13 PM IST

Next Story