IDFC Bank has reportedly sold nine stressed loan portfolios to Edelweiss Asset Reconstruction Company for about Rs 5000 crore. The portfolios sold include Ruchi Soya, Essar (linked to Hazira port debt) and Lanco loans. This is the largest bad loan portfolio sale for the fiscal year ending March 2017.
IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile. Envisioned as a new age bank, IDFC Bank seeks to set a new standard in customer experience, using technology and a service-oriented approach, to make banking simple and accessible, anytime and from anywhere.