RBI categorises IDBI Bank as private sector lender
IDBI Bank has been under the prompt corrective action framework of RBI that bans it from corporate lending and branch expansions, salary hikes and other regular activities.;
- In January, LIC completed the process of picking up a controlling 51 per cent stake in the nearly crippled IDBI Bank.
- The bank’s gross non-performing assets (NPAs) shot up to 29.67 per cent of gross advances as at December 31, 2018 against 24.72 per cent in the year-ago period.