Credit rating agency, ICRA has assigned AA+ rating with stable outlook to the Rs 4,000 crore senior/ lower tier II bonds programme of IDBI Bank. The rating agency has AA rating with stable outlook outstanding on the perpetual bonds programme and upper tier II bonds programme of the bank.
Further, the rating agency has A1+ and MAA+ ratings outstanding on the certificate of deposits programme and the fixed deposit programme of IDBI Bank respectively.
IDBI Bank has a large portfolio of MSME sector units and is desirous of expanding its lending to this MSME sector in view of the fact that this sector is a key driver of Indian economy in terms of contribution to GDP, employment and exports and also the pronouncements in the Government's MSME policy.
