IDBI Bank has deposited Rs 25 lakh towards Recovery Expense Fund (REF) with its designated exchange NSE. In October last year, markets regulator Securities and Exchange Board of India (SEBI) had asked listed companies, proposing to list debt securities, to set up REF so that action could be taken by debenture trustees in case of defaults by the issuer. Privately placed debt securities/bonds worth Rs 14,695.60 crore are outstanding on IDBI Bank as on March 20, 2021. The bonds are placed in 22 different tranches with issue size ranging from Rs 1 crore to Rs 3,000 crore.
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