Page 8 - Idbi Bank

Ahead of IDBI privatisation, Centre working on tightening disclosure rules

Bidders will have to share the details of legal proceedings against them, if any, until the completion of sale transactions

Withdraw confidentiality breach allegations: IDBI Trustee asks Rel Capital

IDBI Trusteeship Services has asked the administrator of Reliance Capital, Nageswara Rao Y to withdraw the allegations of breach of confidentiality

Rs 7K-crore NPA sale to NARCL by Q4: IDBI Bank MD & CEO Rakesh Sharma

'We have identified accounts worth Rs 11,000 crore, of which Rs 4,000 crore is technically written off', said Sharma

Govt to soon invite bids for IDBI Bank privatisation: DIPAM Secretary

DIPAM Secretary Tuhin Kanta Pandey on Wednesday said the department is working on the Expression of Interest (EoI) and would soon invite preliminary bids from investors for the privatisation of IDBI Bank. The Cabinet Committee on Economic Affairs gave in-principle approval for strategic disinvestment and transfer of management control in IDBI Bank in May 2021. Currently, the government holds 45.48 per cent in the bank, and Life Insurance Corporation of India, which is currently the promoter of the bank, owns a 49.24 per cent stake. "We have been at it for quite some time. It is also a first of its kind transaction where through a bidding route we will be privatising a bank. Both government and LIC put together hold 94 per cent in IDBI Bank," he said while addressing 'FICCI CAPAM 2022 - 19th Annual Capital Markets Conference'. As the bank has come out of the Prompt Corrective Action (PCA) framework, he said its performance has improved which would generate greater interest among ...

Govt asks Sebi to ease public shareholding norms for IDBI Bank: Report

The Centre has reached out to Sebi seeking a relaxation period of two years in the minimum public shareholding norms for IDBI Bank after its privatisation

IDBI Bank re-appoints S Jebaraj as deputy MD for 3 years effective Sept 20

Jebaraj handles verticals for large and mid-sized corporates, trade finance and NPA management and he has been a member of internal committees for more than a decade, said IDBI Bank

RBI ready to relax norms to facilitate LIC, government stake sale in IDBI

The largest stake in IDBI is currently held by the LIC. It holds 49.2 per cent of all the shares in the bank. It is followed by the govt, which holds 45.5 per cent

IDBI Bank's CEO says the lender can recover $2.4 billion in bad loans

India is considering selling at least 51% of the $5 billion bank, people familiar with the matter have said

RBL, IDBI Bank surge up to 10%; Karur Vysya, Federal Bank hit 52-week highs

Union Bank of India, Bank of India, Canara Bank, Punjab National Bank, Indian Overseas Bank, Uco Bank, Central Bank of India, and Bank of Baroda from the PSUpack were up 2-5%

Stocks to watch: TCS, Wipro, Future Ent, IDBI Bank, Adani Green, ONGC, NHPC

Stocks to watch today: Canara Bank plans to raise up to Rs 3,500 crore through tier II bonds; TCS clarified that it would pay 100 per cent of variable payout in the June quarter of FY23.

Govt considers selling at least 51% of state-backed IDBI Bank: Report

Authorities plan to sell at least some of the government and LIC's stakes in IDBI Bank and cede management control

Now, IDBI Bank too hikes deposit rates to fund strong loan demand

The highest rate for senior citizens is 6.55 per cent for tenors ranging from 5 years to more than 5 years and up to 10 years

Amrit Mahotsav FD scheme: IDBI Bank announces special 500 days deposit

IDBI Bank has introduced a limited period special 500 days deposit under the Amrit Mahotsav FD scheme, which will offer 6.70 per cent interest rates

Explained: How will India's International Bullion Exchange (IIBX) work

India's International Bullion Exchange (IIBX) will be open for jewellers with a net worth of Rs 25 crore and above to participate

IDBI Bank sale: Clarity on sale glide path for buyers after EoI stage

Currently, the RBI guidelines require promoters to reduce their shareholding to 26 per cent in 15 years

Top Headlines: India working on monkeypox test kit; IDBI Bank divestment

Pakistan ramped up its imports from India despite Islamabad's ban on trade with its eastern neighbour in the April-May period. Read more on this in our top headlines

Divestment push: RBI allows IDBI Bank bidders to own more than 40%

Govt and LIC look to sell 51-74% stake in the lender through strategic disinvestment

IDBI Bank's Q1 net rises 25% to Rs 756 cr as provisions, contingencies dip

The bank had posted a net profit of Rs 603 crore during the same period last year (Q1FY22)

CoC members, bidders must be barred from buying RCap bonds held by LIC: NGO

They are "insiders" and have access to crucial information, says Infrastructure Watchdog; meanwhile, last date if bond sale to be extended to July 22 as LIC finds no takers

IDBI Bank's gold loan business crosses Rs 10,000-crore milestone

IDBI Bank on Tuesday said its gold loan portfolio has crossed a Rs 10,000 crore milestone.