IDBI Bank’s board has approved the Rupee Bond Borrowing limit of Rs 7500 crore for FY 2020-21 to be borrowed in one or more tranches comprising of Additional Tier I Bonds up to Rs 3000 crore, Basel III Tier 2 bonds up to Rs 3500 crore and Senior/Infrastructure Bonds up to Rs 1000 crore by way of private placement.
The bank’s board has also approved in principle the proposal to sell IDBI Bank's stake in IDBI Federal Life Insurance Company (IFLI) to the extent of 23-27%. The Board of Directors, at its meeting held on April 08, 2020, has approved the same.
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