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IDBI Launches “Project Nishchay” to Enhance Financial Performance
October 03, 2017
Public sector IDBI recently launched “Project Nishchay”, a turnaround plan devised in consultation with the Boston Consulting Group (BCG).
Headed by the BCG as well as IDBI Bank’s senior management, the project is aimed at improving the financial performance of the bank by facilitating its turnaround efforts.
Since IDBI Bank has been taken under the prompt corrective action framework of the Reserve Bank of India, it has to conserve its capital as much as possible and improve the profits.
IDBI Bank CEO Mahesh Kumar Jain said that with BCG, they hope to address the existing gaps and improve their processes and products.
