RBI categorises IDBI Bank as private sector lender
14 March 2019 12:00 AM IST
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.
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