The Employees Provident Fund Organisation is concerned about the safety of its Rs 3,200 crore investment in the Industrial Development Bank of India (IDBI) after the financial institution is converted into a bank.
In a letter to IDBI, the organisation, which manages a fund of over Rs 100,000 crore, has asked whether its investments will be safe after the repeal of the IDBI Act, which will pave the way for the development financial institution's conversion into a bank.
The IDBI brass is slated to make a presentation before the organisation
