IDBI Bank’s board has approved the proposal for preferential issue of capital to the government and other financial institutions aggregating up to Rs 2,500 crore. As part of the preferential issue of capital, the government will infuse Rs 1,900 crore and the balance could come in from financial institutions such as Life Insurance Corporation of India (LIC).
As at December-end 2016, the government and LIC held 73.98 per cent and 14.37 per cent stakes, respectively, in the public sector bank.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
