The government has approved over Rs 9,000 crore capital infusion in IDBI Bank with a view to increasing the lender's capital base. The Union Cabinet has cleared recapitalization of IDBI Bank with one-time infusion of funds by both the government and the LIC.
Out of Rs 9,000 crore, the government will provide Rs 4,557 crore as one-time re-capitalisation to IDBI Bank. Besides, LIC will infuse Rs 4,700 crore.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
