IDBI Bank has formed consortium with other PSU lenders for jointly financing infrastructure projects with project cost of Rs 1,000 crore and above. The other PSU lenders to form the consortium with IDBI Bank are SBI, PNB, Bank of India, Bank of Baroda, Canara Bank, Union Bank, IIFCL and LIC.
These 9 largest PSU lenders met on June 19, 2012 to discuss the detailed framework and the modalities for joint financing of viable infrastructure projects. The consortium aims to speed up the sanction process, bring uniformity in the approach and terms of lending; thereby facilitate early financial closure of the infrastructure project.
IDBI Bank is the youngest new generation public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 980 branches and 1579 ATMs.
