According to a public notice issued by IDBI Bank, the immovable properties, which will be sold through e-auction next month, are located in Karnataka's Kodagu district
Stocks to watch today: SBI and IDBI Bank have raised their interest rates on retail term deposits, subject to different tenors; LIC hiked stake in Hero MotoCorp to 11.2 per cent from 9.1 per cent.
Stocks to watch today: Dhanlaxmi bank saw no outcome or resolution in their EGM meeting; Media stocks are expected to hog limelight ahead of day 2 of IPL's media rights auction.
Govt intermediaries sought exemptions in IDBI bank sale under RBI rules, which require promoters' shareholding to be reduced by 26% post acquisition
The official said while the quantum of stake dilution of both the government and LIC is yet to be decided, the management control in IDBI Bank will be transferred in the strategic sale
The conditions for the strategic divestment of IDBI Bank could facilitate its merger with other financial entities, including commercial banks, said an official. Read more in our top headlines
The government sees banks and large non-banking financial companies as the most suitable contenders to participate in the sale of IDBI Bank
The Centre is looking to woo top global investors for the sale of its stake in IDBI Bank as a team of senior government officials visits the US this week. Read more in our top headlines
Senior officials to meet investors in US, seek feedback
Stocks to Watch Today: Bharat Electronics, Data Patterns (India), SAIL and Zomato ahead of Q4 earnings on Monday.
The transaction is expected to be completed in Q2FY23, subject to regulatory approvals and satisfaction of the terms and conditions set out in the share purchase agreement.
IDBI Bank on Wednesday said it has divested its entire stake of over 19 per cent in ARCIL to Avenue India Resurgence Pte. The lender, however, did not disclose the deal value. "...IDBI Bank has sold its entire holding of 6,23,23,800 fully paid-up equity shares constituting 19.18 per cent of the total equity share capital of Asset Reconstruction Company (India) Ltd. (ARCIL) on May 18, 2022 to Avenue India Resurgence Pte. Ltd," IDBI Bank said in a regulatory filing. With this, the LIC-controlled lender said it ceases to be a sponsor shareholder of ARCIL. Stock of IDBI Bank closed 0.39 per cent down at Rs 38.10 apiece on BSE.
We will ramp up digital channels and make tactical tweaks on equity investments to please policyholders, said M R Kumar
The bank also announced that M R Kumar has ceased to be the non-executive non-whole time chairman of the bank with effect from May 8, 2022, after completion of the RBI approved term of three years
Stocks to Watch Today: Tata Steel has announced a 46.8 per cent jump in Q4 net, and also announced a 10:1 stock split; LIC's Rs 21,000 crore IPO opens today.
For FY22, the net profit rose 79 per cent to Rs 2,439 crore from Rs 1,359 crore in the previous financial year
IDBI Bank on Monday posted 35 per cent rise in net profit at Rs 691 crore for the quarter ended March 2022 due to fall in bad loan provisions as NPAs came down.
IDBI Bank on Friday said its board has approved the appointment of two government nominee directors with effect from April 28. The government nominee directors are Manoj Sahay, Joint Secretary and Financial Advisor, and Sushil Kumar Singh, Director, Department of Financial Services, Ministry of Finance, according to a regulatory filing. Sahay and Singh are not related to any other director of key managerial personnel on the board of the bank, the lender said. Sahay, a 1994 batch IA&AS officer, presently handles six departments -- revenue, expenditure, economic affairs, financial services, DIPAM and public enterprises. Earlier, he was on deputation as director (Administration & Finance) at National Highways and Infrastructure Development Corporation Ltd. under Ministry of Road Transport and Highways. Singh is an officer of 2006 batch of Indian Defence Accounts Service. Presently, he is looking after the financial inclusion division and monitoring the implementation of ...
Lowering of stake by Centre and LIC to be decided post consultation with investors during roadshows, after which EoI document would be structured, says DIPAM Secy Tuhin Pandey
Private lender IDBI Bank has proposed a nearly 10-fold hike in the salary of its managing director and CEO Rakesh Sharma who had been instrumental in bringing the bank out of the RBI's restrictive prompt corrective action (PCA) framework. The bank has sought the approval of its shareholders through a postal ballot which started on April 6 and will end on May 5, 2022, to pass the ordinary resolution, among others. The lender, in which LIC holds a majority stake, will declare the results of the postal ballot on or before May 7, 2022. Members' permission is also sought to re-appoint Sharma as the MD & CEO for another three years with effect from March 19, 2022. The bank proposes for approval of the members to transact special business through postal ballot only by way of voting through electronic means, to consider and, if thought fit, to pass as ordinary resolution for re-appointment of Rakesh Sharma as a non-rotational director and Managing Director & Chief Executive Officer ..