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IDBI Bank Sets up Special Department for Handling Bad Loans
June 15, 2017
After taking multiple hits, including getting downgraded by credit rating bureau (ICRA) and being put under Scanner by RBI, IDBI Bank has set up a special department for monitoring credit performance and managing bad loans. The lender also plans to raise Rs. 5,000 crore this fiscal through the sale of its non-core assets in an aim to fulfill the capital conservation buffer norms.
IDBI Bank has been recording poor performance in the last few quarters and owing to its increasing NPAs RBI had initiated a Prompt Corrective Action on it. To overcome the limitations and reduce losses the lender is taking corrective measures now.
